Monday, November 23

USD/RUB and Gold: Potential Jump Ahead?

Good day,

The USD/RUB pair has approached the level of 75.40, which is also the middle point of the last drop (50% Fibonacci). It is likely that the asset might pull back from the horizontal line and target the level of 72.35. It could also break the level through and target the psychological level of 77.00 away from which the asset might drop.

Gold keeps testing a very strong psychological level of 1900.00. Today it has also carefully touched the uptrend, pulling back from it. Currently, the asset is trying to form a bullish engulfing, which is touching all the important technical points discussed above. This might signify potential price spike till the level of about 2075.00.

The price of the Australian dollar decided to retest the uptrend therefore it might repeatedly pull from the broken uptrend down till the level of 0.7064.

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