Currency pair US Dollar to Russian Ruble USD/RUB closes the trading week near the level of 62.27 Ruble for the US dollar. The pair continues to move within the framework of correction and formation of the «Triangle» model. At the moment, we should expect a test of the resistance area near the level of 63.00 and continue to reduce the pair below the level of 60.50.
USD/RUB weekly forecast & analysis July 16 — 20, 2018
In favor of reducing the Dollar Ruble pair, a trend line test will be performed on the indicator of relative strength index (RSI). Abolishing the option of continuing the decline of the Dollar/Ruble pair will be a strong growth and breakdown of the 64.00 area, which will indicate the breakdown of the upper limit of the «Triangle» model and the continued growth of the US Dollar against the Russian Ruble. To expect confirmation of the fall of the pair is with the breakdown of the lower border of the channel and the closing of quotations below the level of 60.00.
USD/RUB weekly forecast & analysis July 16 — 20, 2018 suggests a test of the resistance area near the level of 63.00, from where one should expect an attempt to drop the Dollar in the area below the level of 60.00, in favor of the pair’s decline, the downtrend test on the relative strength index (RSI), the cancellation of the depreciation of the dollar on the current trading week will be a strong growth and breakdown of the area of 63.00, indicating that the pair will continue to grow.
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