The currency pair Euro Russian Ruble EUR/RUB completes the trading week near the level of 74.36. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in the Euro/Ruble pair. As part of the EUR/RUB forecast & analysis October 29 — November 2, 2018, the test of the Ichimoku Kinko Hyo signal lines is expected near the level of 75.50, from where it is necessary to expect a rebound and continued development of the downward movement of the EUR/RUB pair with a target at 72.00.
EUR/RUB forecast & analysis October 29 — November 2, 2018
An additional signal in favor of the fall of the currency pair will be the test of the upper limit of the downward channel, as well as a rebound from the resistance level. Earlier, a signal of average strength was received for BUY of the Euro/Ruble, due to the crossing of signal lines at 73.35.
Cancellation of the option of falling quotes of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above 78.50, which will indicate a change in the downward trend in favor of an upward trend and continued growth. Expect to accelerate the fall of the pair EUR / RUB stands with the breakdown of the lower boundary of the rising channel and closing below 73.00 rubles per Euro.
EUR/RUB forecast & analysis October 29 — November 2, 2018 involves an attempt to test the resistance level level near 75.50, from which a rebound is expected and the currency pair will continue to fall with a potential target near the level of 72.00, strong growth will be canceled and the area will break through 78.50, which indicates a continued growth of the Euro against the Russian ruble.