Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 62.97 Rubles for the 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 of 22 — 26, 2019, a drop in the support area near the level of 62.70 is expected. Where can we expect a rebound and continued growth of the dollar above the level of 66.45.
USD/RUB Forecast and Analysis July 22 — 26, 2019
In favor of raising the pair Dollar/Ruble will be the formation of a reversal pattern of an inverted «Head and Shoulders» on the relative strength indicator. The second signal will be a rebound from the lower boundary of the downward channel. Cancellation option to continue the growth of the pair Dollar/Ruble will be the fall and the breakdown of the area of 60.75. This will indicate a breakdown of the support area and the continuation of the fall of the US Dollar against the Russian Ruble. Expect confirmation of growth in the pair is with the breakdown of the resistance area and closing of the USD/RUB quotes above 64.45.
USD/RUB Forecast and Analysis July 22 — 26, 2019 implies an attempt to test the support area near the level of 62.70. Where should we expect an attempt to increase the dollar in the region above the level of 66.45. An additional signal will be a rebound from the support line on the relative strength indicator. Cancellation of the option of raising the dollar in the current trading week will be the fall and the breakdown of the area of 60.75. That would indicate a continued decline in the pair.