Could the Russian Ruble Jump Soon?

Good day,

The USD/RUB has pulled back from the uptrend and repeatedly approached the 75.40 horizontal level against geopolitical news. The asset might break the horizontal and test the 77.00 level however, it could also pull from the level and drop all the way till the 72.70 level.

The daily chart shows that gold price broke the upper side of the symmetrical triangle (the points 1, 2, 3 and 4 on the chart), pulling back to its broken side. The uptrend and psychological level of 1900.00 are right next to this side. Here gold could then head North and jump till the 2075.00 level.

What is coming for the EUR/USD isn’t quite clear. The asset is approaching the uptrend but keeps pulling down from the 1.1900 level. It means that the currency pair might potentially break the uptrend and drop. All in all, we should wait for the candlestick signals to form, and check what the gold is about to do right next to the uptrend.

Let us remind you that this material is provided for informative purposes only and cannot be considered as a direct go ahead to implement transactions in the financial markets. Trading in the financial markets is very risky.





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Credit: Tickmill

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