EUR/RUB will continue to fall lower in the following days

٧ فبراير ٢٠٢٠

The pair will continue to fall lower in the following days after it failed to breakout from a downtrend channel resistance line. Geopolitics have changed following the election of US President Donald Trump. He became the face of populist leaders rising across the world. This became problematic with traditional allies, specifically with the European Union. Germany has since then increased its ties with China while France move closer with Russia. President Emmanuel Macron went on saying distancing to Russia was a major error for the EU. 2019 has been a challenging year for the EU’s foreign policy. This was after Russia increased its holding of Crimea, a Ukrainian territory. Ukraine is an official candidate of EU enlargement policy. Meanwhile, Belarus and Serbia are moving closer to Russia. These countries were in talks with the EU to become future candidates for accession on the largest trading bloc in the world.