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The ruble dived under 73, but the defense will be tough!


Good day!

The Russian ruble has entered the support area formed between the levels of 72.30-73.00, where the quotes have a serious increase in the chances of stopping and changing their decline – with growth. It is important to note here that prices still have a little room to fall, to the 72.50 area. For now, it’s worth waiting and looking at the price behavior near our contour lines to see the final ruble decision on the direction change:

So far, nothing can be said for sure about oil. It seems like we broke through the key level 71.30, but it was fixed with only two candlesticks. Still, it is worth looking at the close of tomorrow, as we may face an ordinary bull trap (and, why not), which will be framed by a long black candlestick:
The ruble dived under 73, but the defense will be tough!

The EUR / USD pair closed the day with a white candle on Friday, marking the outlines of a small flag. Here, a potential moment looks like a hike of quotes towards another testing of the horizontal 1.2250, with prices bouncing down. Of course, the option of breaking upwards should not be discarded either, but retesting 1.2000 looks quite interesting:
The ruble dived under 73, but the defense will be tough!

Oleg Svirgun,
analyst at Tickmill brokerage company
06/07/2021

Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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