USDRUB hits the level of 62.50: what’s next?


The USDRUB pair remains at the level of 62.50 hinting that it can either jump or drop. In principle, the engulfing-like pattern has just formed yesterday but white candle is hindering potential drop. We assume that this pair will rather drop than jump so let’s wait for trading day to end and see what will happen next:

American index S&P500 remains next to the uptrend for the fourth time in a row. The asset has formed a bullish engulfing signifying potential jump till the level of 3337:

Oil is going strong below the broken level therefore it is most likely to drop anytime soon. Moreover, the pattern, which strongly resembles the inverse flag, is recently forming in the chart. It means that the current trend might develop even further:

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