Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 63.38 Rubles per US Dollar. The pair continues to move within the correction and the downward channel. Moving averages indicate a downward trend. In the current trading week November 4 — 8, 2019, we should expect an attempt to grow and test the resistance area near the level of 64.55. Where can we expect a rebound and the continuation of the fall of the Dollar below the level of 60.65.
USD/RUB Forecast and Analysis November 4 — 8, 2019
In favor of the fall of the Dollar/Ruble pair, a rebound from the upper boundary of the descending channel will be made. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option to continue the decline of the Dollar/Ruble pair will be a strong growth and a breakdown of the area of 66.65. This will indicate a breakdown of the resistance level and continued growth of the US Dollar against the Russian Ruble with a target above 69.85. Expect confirmation of a fall in the pair is with the breakdown of the lower boundary of the rising channel and the closing of the USD/RUB quotes below the level of 62.35.
USD/RUB Forecast and Analysis November 4 — 8, 2019 involves an attempt to test the resistance area near the level of 64.55. Where can we expect an attempt to fall of the Dollar to the area below the level of 60.65. An additional signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the option of depreciating the Dollar in the current trading week will be a strong growth and a breakdown of the area of 66.65. Which will indicate the continuation of the rise of the pair with the target at 69.85.
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