The currency pair Euro Russian Ruble EUR/RUB completes the trading week near the level of 74.79. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, which indicates a downward trend in the Euro/Russian Ruble pair. As part of the EUR/RUB forecast and analysis March 4 — 8, 2018. A test of the area of the Ichimoku Kinko Hyo signal lines is expected near the 75.05 level. Where can we expect a rebound and the continuation of the development of the downward movement of the EUR/RUB pair with a target at the level of 71.95.
EUR/RUB forecast and analysis March 4 — 8, 2019
An additional signal in favor of reducing the currency pair will be a test of the resistance area. As well as a rebound from the upper limit of the model «Triangle”. Earlier, a weak signal was received for SELL of the Euro/Russian Ruble pair, due to the intersection of signal lines at 77.45.
Canceling 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 quotes above the level of 77.05. This will indicate a change in the downward trend in favor of the upward trend and continued growth. Expect to accelerate the fall of the pair EUR/RUB stands with the breakdown of the support area and closing below the level of 73.85 Rubles per Euro.
EUR/RUB forecast and analysis March 4 — 8, 2019 implies an attempt to test the resistance level level near the 75.05 area. Where can we expect a rebound and the continuation of the fall of the currency pair with a potential target near the level of 71.95. Cancellation of the option to reduce quotes will be a strong increase and the breakdown of the 77.05 area. This will indicate a continuation of the growth rate of the Euro against the Russian Ruble.