Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 65.79 Rubles for the US Dollar and continues to move within the ascending channel. As part of the technical analysis of USD/RUB in the current trading week of October 29 — November 2, 2018, we should expect a test of the support area near the level of 64.50, where we should expect a rebound and continued growth of the pair above the level of 68.00.
USD/RUB weekly forecast October 29 — November 2, 2018
In favor of the growth of the pair Ruble/Dollar will be a test of the trend line on the indicator of relative strength index (RSI), as well as the formation of the rising Wolf Wave model. Cancellation of the option to continue the growth of the Dollar Ruble pair will be a decline and a breakdown of the area of 63.00, which will indicate a breakdown of the lower boundary of the upward channel and a further decline in the rate of the US Dollar against the Russian Ruble. Expect confirmation of growth for the pair is with the breakdown of the resistance area and closing of the USD/RUB quotes above the level of 66.50.
USD/RUB weekly forecast October 29 — November 2, 2018 suggests an attempt to test the support area near the level of 64.50, from which we can expect an attempt of the dollar to rise to above 68.00, in favor of the pair’s growth will be a test of the trend line on the relative strength index (RSI), canceling the dollar growth rate in the current trading week there will be a decline and a breakdown of the area of 63.00, which will indicate a continuation of the fall of the pair.