Currency pair US Dollar/Russian Ruble USD/RUB continues to move as part of the growth and the formation of the downward model ”Wolfe Wave”. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 75.56. 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 USD exchange rate forecast for January 18, 2022, we should expect an attempt to develop a price increase and test the resistance level near the area of 77.85 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 72.15.
USD/RUB Forecast Russian Ruble January 18, 2022
An additional signal in favor of the fall of the USD/RUB currency pair on January 18, 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 boundary of the descending ”Wolfe Wave” pattern. Cancellation of the option to reduce the USD/RUB pair on Forex will be a strong growth in quotes and a breakdown of the level of 78.75 rubles per dollar. This will indicate a breakdown of the resistance area and the continuation of the rise of the Dollar/Ruble pair to the area above the level of 80.25. The fall of the pair will be confirmed by a breakdown of the support area and the closing of asset quotes below the level of 74.65, which will indicate a breakdown of the lower boundary of the “Wolfe Wave” model.
USD/RUB Forecast Russian Ruble January 18, 2022 suggests an attempt to test the resistance level near the area of 77.85. 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 72.15. An additional signal in favor of the pair’s decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a breakdown of the resistance area and closing of quotes above the level of 78.75. In this case, we should expect the US dollar to continue to rise against the Russian currency to the level of 80.25.
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