Currency pair US Dollar to Russian Ruble USD/RUB closes the trading week near the level of 62.95 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 support area near the level of 62.20 and the continuation of the pair’s growth above the level of 67.20.
USD/RUB weekly forecast & analysis July 30 — August 3, 2018
In favor of the growth of the Dollar/Ruble pair, the inverted model «Head and Shoulders» will appear on the indicator of relative strength. Canceling the option of continuing the growth of the Dollar/Ruble pair will be a drop and breakdown of the area of 61.20, which will indicate the breakdown of the lower limit of the «Triangle» model and the continued depreciation of the US Dollar against the Russian Ruble. To expect confirmation of the upward trend in the pair is with the breakdown of the upper limit of the «Triangle» model and the closing of quotations above the level of 64.00.
USD/RUB weekly forecast & analysis July 30 — August 3, 2018 assumes a test of the support area near the level of 62.20, from where we expect the attempt of the US Dollar growth to the area above the level of 67.20, in favor of the pair growth, the trend line test on the relative strength index (RSI), the cancellation of the growth rate of the US Dollar on the current trading week will be the fall and breakdown of the 61.20 area, which will indicate the continued decline of the pair.