Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 61.72 Rubles per US Dollar. The pair continues to move as part of the growth and the beginning of the development of the bullish «Wolfe Wave» model. Moving averages indicate a bearish trend. In the current trading week February 3 — 7, 2020 we should expect an attempt to develop a fall and test the support area near the level of 62.35. Where can we expect a rebound and continued growth of the Dollar above the level of 68.75.
USD/RUB Forecast and Analysis February 3 — 7, 2020
An additional signal in favor of raising the Dollar/Ruble pair will be a rebound from the lower boundary of the «Wolfe Wave» model. The second signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the growth option for the pair Dollar/Ruble will be a fall and a breakdown of the area of 58.35. This will indicate a breakdown of the support level and a continued decline in the US Dollar against the Russian Ruble with a target below 55.65. 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 64.05.
USD/RUB Forecast and Analysis February 3 — 7, 2020 implies an attempt to test the support area near the level of 62.35. Where should we expect an attempt to fall of the Dollar in the region above the level of 68.75. An additional signal will be a rebound from the support line on the relative strength index (RSI). The cancellation of the growth rate of the Dollar in the current trading week will be the fall and the breakdown of the area of 58.35. Which will indicate a continued decline in the pair with a target at 55.65.
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