Currency pair USD/RUB US Dollar to Russian Ruble is trading at 65.70 Rubles per Dollar and continues to move as part of the «Triangle» model. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in the pair US Dollar Russian Ruble. As part of the forecast, a test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 65.80, from where it is necessary to expect a rebound and the continuation of the fall of the USD/RUB pair with a target at the level of 63.10.
Russian Ruble forecast USD/RUB October 31, 2018
An additional signal in favor of the depreciation of the dollar against the Russian ruble will be a rebound from the resistance area, as well as a test of the upper limit of the «Triangle» model. Earlier, a signal of average strength was received for the SELL the USD/RUB, the Russian ruble, due to the intersection of signal lines at 65.65.
Cancellation of the option to reduce quotes of the USD/RUB pair will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with closing of quotes above the level of 66.40, which will indicate a downward trend in favor of an upward trend and continued growth with a potential target at 68.05. Waiting for confirmation of the fall of the USD/RUB pair is with the breakdown of the lower boundary of the «Triangle» model and closing below 64.70.
Russian Ruble forecast USD/RUB October 31, 2018 suggests an attempt to test the resistance area near 65.80, from which we can expect the currency pair to continue falling with a potential target near the level of 63.10, the option of reducing the pair’s decline will be a breakdown of 66.40, which will indicate a continued growth of the Dollar rate US to the Russian Ruble.