This pair could be on a downtrend (provided if the price of Crude Oil is destined to strengthen for the time-being)...
Also it is important to know whether is the USD set to weaken even further, or will the USD eventually get stronger...?
A little common sense (of mine) would be; since this pair has already rallied so high (due to the crude oil price kept falling & the USD positive rally earlier)...; I reckon that the time has come for this pair to "unwind" & pullback downwards (the USD got weaker & the price of oil started to go up)...
The Ruble might not weaken any further; instead, it might start to strengthen (if the oil price is on an uptrend)...
Also it is important to know whether is the USD set to weaken even further, or will the USD eventually get stronger...?
A little common sense (of mine) would be; since this pair has already rallied so high (due to the crude oil price kept falling & the USD positive rally earlier)...; I reckon that the time has come for this pair to "unwind" & pullback downwards (the USD got weaker & the price of oil started to go up)...
The Ruble might not weaken any further; instead, it might start to strengthen (if the oil price is on an uptrend)...
