USDRUB Hits the Level of 62.50: What’s Next?
Good day!
The USDRUB pair remains at the level of 62.50 hinting that it can either jump or drop. In principle, the engulfing-like pattern has just formed yesterday but white candle is hindering potential drop. We assume that this pair will rather drop than jump so let’s wait for trading day to end and see what will happen next:
American index S&P500 remains next to the uptrend for the fourth time in a row. The asset has formed a bullish engulfing signifying potential jump till the level of 3337:
Oil is going strong below the broken level therefore it is most likely to drop anytime soon. Moreover, the pattern, which strongly resembles the inverse flag, is recently forming in the chart. It means that the current trend might develop even further:
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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