Could the Russian Ruble and Oil Jump Soon?
USD/RUB is quickly approaching the 73.00 level. The asset might gain significant support at this level to target the level of 75 next.
As can be seen from the weekly chart, gold is trying to form a bullish flag. So far, what is about to happen next is unclear. Gold might either break the upper boundary of flag or pull back from it. All in all, it would be wise to check the price movements next to the descending trendline.
Oil is going up. Having broken the 68.00 level and staying above, oil is about to pull from this downtrend and target the level of 71.30. Last Friday oil closed with a doji, touching the level of 68. Hence, this asset could potentially jump.
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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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