Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 63.41 rubles for the US dollar. The pair continues to move as part of the growth and formation of the ascending «Wolfe Wave» model. Moving averages indicate a lateral trend. In the current trading week July 8 — 12, 2019, a drop in the test and support area near the level of 62.95 is expected. Where can we expect a rebound and the continuation of the growth of the dollar above the level of 66.35.
USD/RUB Forecast and Analysis July 8 — 12, 2019
In favor of raising the pair Ruble Dollar will test the support line on the indicator of relative strength. The second signal will be a rebound from the lower boundary of the model «Wolfe Wave». Cancellation option to continue the growth of the pair Ruble Dollar 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 USD/RUB quotes above the level of 63.85.
USD/RUB Forecast and Analysis July 8 — 12, 2019 implies an attempt to test the support area near the level of 62.95. Where should we expect an attempt to increase the dollar in the area above the level of 66.35. 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.