Will the USD/RUB Jump or Drop Against the OPEC+ Decision?

<p>Good day!</p>
<p>The Russian ruble keeps forming the spikes on the USD/RUB chart for the second day in a row. It doesn’t come as a surprise since both Russian ruble and oil are waiting for the virtual meeting to be held by OPEC+. The results of this meeting might help oil and the Russian ruble to jump. So far, it is not clear whether the USD/RUB will reach the 82.50 level or drop till the 70.50 level. This matter depends on the results of the meeting where OPEC+ could potentially cooperate with cutting oil production:</p>
<p><img class="alignnone size-large wp-image-41513" src="http://blog.tickmill.com/wp-content/uploads/2020/04/1-1024×475.jpg" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/04/1-1024×475.jpg 1024w, https://blog.tickmill.com/wp-content/uploads/2020/04/1-300×139.jpg 300w, https://blog.tickmill.com/wp-content/uploads/2020/04/1-768×357.jpg 768w, https://blog.tickmill.com/wp-content/uploads/2020/04/1.jpg 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>The price of British currency has formed a trend reversal pattern or ‘the spike’, which is currently touching a very strong supporting level of 1.1423. We feel that the asset might either get back to the middle point of this pattern or the level of 1.1950. It could then jump or form a bullish flag and target the downtrend ahead:</p>
<p><img class="alignnone size-large wp-image-41514" src="http://blog.tickmill.com/wp-content/uploads/2020/04/3-1024×475.jpg" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/04/3-1024×475.jpg 1024w, https://blog.tickmill.com/wp-content/uploads/2020/04/3-300×139.jpg 300w, https://blog.tickmill.com/wp-content/uploads/2020/04/3-768×357.jpg 768w, https://blog.tickmill.com/wp-content/uploads/2020/04/3.jpg 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>For now, the price of the S&amp;P500 is approaching the middle point of its drop, that is, the level of 2790… Away from which the asset might potentially pull and drop:</p>
<p><img class="alignnone size-large wp-image-41509" src="http://blog.tickmill.com/wp-content/uploads/2020/04/4-2-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/04/4-2-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/04/4-2-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/04/4-2-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/04/4-2.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>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.</p>
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