Currency pair US Dollar Russian Ruble USD/RUB continues to move in the framework of the sideways movement and the formation of the bullish pattern «Wolfe Wave». At the time of the publication of the forecast, the exchange rate of the US Dollar to the Russian Ruble is 65.98. At the moment, it is worth expecting an attempt to test the support level near the 65.45 Ruble area for the US Dollar and the pair to continue to grow to an area above 67.65 as part of the start of model development.
USD/RUB forecast Russian Ruble November 7, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of the growth of the USD/RUB pair. Cancellation of the growth option of the USD/RUB pair at Forex will be a fall and a breakdown of the level of 63.50 Russian Rubles for the US Dollar, which will indicate support areas and the continuation of the fall of the Dollar/Ruble to the area below the level of 62.00. Confirmation of the growth of the pair will be the breakdown of the resistance area and the closure above 66.35.
USD/RUB forecast Russian Ruble November 7, 2018 implies an attempt to test the support level near the area of 64.95, from which it is worth expecting a rebound and continued growth of the Dollar rate against the Ruble with a target above 67.65. An additional signal in favor of the pair growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the breakdown of the support area and closing of quotes below the level of 63.50.
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