Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the decline and the beginning of the development of the “Wolfe Wave” model. At the time of publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 76.03. Moving averages indicate the presence of a short-term bullish trend. Prices have gone up from the area between the signal lines, which indicates pressure from buyers of the US currency and a potential continuation of the fall of the US Dollar against the Russian Ruble. As part of the dollar exchange rate forecast for February 3, 2022, we should expect an attempt to develop a price increase and test the resistance level near the area of 77.15 rubles per US dollar. Then, a rebound down and the continuation of the fall of the currency pair to the area below the level of 71.95.
USD/RUB Forecast Russian Ruble February 3, 2022
An additional signal in favor of the fall of the USD/RUB currency pair on February 3, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the Wolfe Wave model. Cancellation of the option of falling the USD/RUB pair on Forex will be a strong growth in quotes and a breakdown of the level of 80.85 rubles per dollar. This will indicate a breakdown of the resistance area and continued growth of the Dollar/Ruble pair to the area above the level of 83.45. The fall of the pair will be confirmed by a breakdown of the support area and closing of the asset quotes below the level of 75.05.
USD/RUB Forecast Russian Ruble February 3, 2022 suggests an attempt to test the resistance level near the area of 77.15. Where should we expect a rebound and a continuation of the fall of the dollar against the ruble with a target below the level of 71.95. An additional signal in favor of the fall of the pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a breakdown of the resistance area and closing of quotes above the level of 80.85. In this case, we should expect continued growth of the US dollar against the Russian currency to the level of 83.45.
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