The currency pair USD/RUB US Dollar to Russian Ruble continues to move within the correction, it is worth to expect an attempt to fall below 56.70 rubles per US dollar. Near this level, one should expect the formation of an upside-down Forex Head and Shoulder model and the growth of USD/RUB quotations with a potential growth target above the level of 62 rubles per US dollar.
USD/RUB Forecast US Dollar to Russian Ruble on May 15, 2017
In favor of growth of quotations of the Dollar Ruble pair, a support line test will be performed on the indicator of relative strength. The cancellation of the variant of the pair’s turn will be the fall and breakdown of the local minimum area, which will indicate the cancellation of the pair’s growth.
USD/RUB Forecast US Dollar to Russian Ruble on May 15, 2017 suggests an attempt to fall below 56.70 rubles to the dollar, from which we expect the dollar to rise against the ruble as part of the start of the forex reversal of the head and shoulders model.
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