Russian ruble on upward trajectory


Russian ruble was remaining in the narrow supporting zone 63.60-64.00 all week long. We still assume that the currency pair USD/RUB should pull from the supporting zone and may jump anytime soon:

Based on the reports by COT CFTC, large operators still go long for Russian ruble, gradually decreasing their long positions. Yet, this move resembles a long range, making Russian ruble go flat:

The price of European currency approached the uptrend and closed with a candle behind it. The asset’s price is likely to get back to the uptrend and close there with a long with candle, targeting the level of 1.1200. The asset can also break the trend and approach the level of 1.0927 just to pull back from it. But this all will be ruled out next week. So, let’s wait and see what’s going to happen:

The latest reports by COT CFTC show that large operators quickly expanded their long positions and decreased the short ones. Hence, we should keep an eye on current situation until large operators decide to steadily go long:

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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