The price of currency pair USD/RUB is staying below the 63 level. Considering the dollar’s long losing streak, the price of USD/RUB could be likely to drop. This drop could even get to the 60.50 level and then correct itself. The asset’s price might also form a bearish flag and break its side with a long black candle:
In the daily chart, the price of euro got slightly corrected, forming a bullish flag. The asset’s price is also testing the broken 1.1347 local level. All in all, the single currency seems more likely to jump rather than drop:
Based on the latest reports by COT CFTC, large operators keep shortening sales and increasing the purchases. We assume that this trend should continue upon Federal Reserve Saturday’s decision. Euro decided to head North.
