Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 65.23 Rubles per US Dollar. The pair continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. In the current trading week, August 5 — 9, 2019, we should expect a decrease and a test of the support area near the level of 63.55. Where can we expect a rebound and continued growth of the dollar above the level of 69.90.
USD/RUB Forecast and Analysis August 5 — 9, 2019
In favor of raising the Dollar/Ruble pair, the formation of an inverted «Head and Shoulders» reversal pattern on the price chart will come out. The second signal will be a rebound from the broken down trend line on the relative strength index (RSI). Cancellation of the option to continue the growth of the Dollar/Ruble pair will be a fall and a breakdown of the area of 60.75. This will indicate a breakdown of the support area and a continued fall of the US Dollar against the Russian Ruble. Expect confirmation of growth for the pair is with the breakdown of the resistance area and the closing of the USD.RUB quotes above the level of 66.55.
USD/RUB Forecast and Analysis August 5 — 9, 2019 involves an attempt to test the support area near the level of 63.55. Where can we expect an attempt to grow the Dollar in the region above the level of 69.90. An additional signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the option of raising the Dollar rate in the current trading week will be a fall and a breakdown of the area of 60.75. Which will indicate a continued decline in the pair.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
