Oil Prices Push the Ruble in the Right Direction
Good day,
The currency pair EUR/USD has successfully tested the supporting level of 1.2000, closing with a bullish engulfing on Friday and signifying potential jump. So far, the asset is targeting resistance at the level of 1.2350.
The USD/RUB pair has managed to pull from the resistance at the level of 76.00. The asset is currently targeting the level of 72.70. So far, we feel that the asset might pull from the support and broken downtrend. Although it might also target the level of 68.00 therefore let’s wait and see what’s about to happen next.
Brent oil has closely approached the psychological level of 60.00 and the upper boundary of weekly downtrend. From here oil might drop although it might also slightly jump above the downtrend.
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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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