Currency pair US Dollar to Russian Ruble USD/RUB continues to move within the formation of the forex reversal pattern “Head and Shoulders”. Probably the pair has completed the formation of the right shoulder of the model “Head and Shoulders” and we should expect the continuation of the growth of the USD/RUB quotes already from the current levels.
USD/RUB forecast US Dollar to Russian Ruble on May 18, 2017
In favor of the growth of the pair is a rebound from the rising trend line on the indicator of relative strength index (RSI). The cancellation of the growth for the pair US Dollar to Russian Ruble on Forex will be breakdown of the level 55 Rubles per US Dollar.
In this case, we should expect the pair to continue falling. Expect to accelerate the growth of US Dollar to Russian Ruble USD/RUB on Forex with a breakdown of the level of 58 Rubles per US Dollar, which will indicate the break of the neck line of the reversal pattern “Head and Shoulders”.
USD/RUB forecast US Dollar to Russian Ruble on May 18, 2017 suggests an attempt to growth in the area 58 Rubles per US Dollar as part of the beginning of the Forex reversal pattern “Head and Shoulders”.
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