USD/RUB Targets the Level of 85

<p>Good day!</p>
<p>Having jumped high, the currency pair USD/RUB took a break forming a pennant in between and signifying the continuation of trend. Of course, before a jump, the asset’s price might slightly fluctuate and even touch the supporting level of 75.40 denoted by the dashed line on the chart. All in all, we feel that the currency pair may jump and target the level of 85+:</p>
<p><img class="alignnone size-large wp-image-40649" src="http://blog.tickmill.com/wp-content/uploads/2020/03/1-18-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/03/1-18-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/03/1-18-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/03/1-18-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/03/1-18.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>The stock index S&amp;P500 is trying to jump, strengthening the position above the supporting level of 2342.63 and forming a bullish engulfing. We assume that the asset should pull to the middle point of engulfing first and then only target the level of 2790.00, which is the middle point of the last drop from historical maximums:</p>
<p><img class="alignnone size-large wp-image-40644" src="http://blog.tickmill.com/wp-content/uploads/2020/03/2-12-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/03/2-12-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/03/2-12-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/03/2-12-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/03/2-12.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>The British pound broke the supporting zone formed between the levels 1.1958 and 1.2015. This area has now become a resistance zone. The currency pair is currently testing this zone trying to form a candle somewhat resembling a shooting star. A small consolidation has also formed after a longstanding drop thus opening up the possibility for the inverse flag to form. Such a flag formation usually signifies potential continuation of a trend:</p>
<p><img class="alignnone size-large wp-image-40650" src="http://blog.tickmill.com/wp-content/uploads/2020/03/3e-1024×475.jpg" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/03/3e-1024×475.jpg 1024w, https://blog.tickmill.com/wp-content/uploads/2020/03/3e-300×139.jpg 300w, https://blog.tickmill.com/wp-content/uploads/2020/03/3e-768×357.jpg 768w, https://blog.tickmill.com/wp-content/uploads/2020/03/3e.jpg 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
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