Currency pair US Dollar to Russian Ruble USD/RUB completes the trading week near the level of 65.92 Russian Rubles for the US Dollar and continues to move as part of the correction. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in the pair US Dollar/Russian Ruble. A test of the lower boundary of the Ichimoku Kinko Cloud is expected near the level of 66.20, from where it is worth expecting a rebound and an attempt to further fall of the US Dollar against the Russian Ruble with a goal near the level of 63.30.
USD/RUB forecast Russian Ruble November 5 — 9, 2018
An additional signal in favor of the pair falling will be a test of the resistance area, as well as a rebound from the upper boundary of the «Triangle» model. Earlier, a weak signal was received for SELL the US Dollar/Russian Ruble, due to the crossing of signal lines at the level of 68.35.
Cancellation of the option of falling quotations of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above 67.20, indicating a change in the downward trend in favor of the uptrend and the continued decline. Expect to accelerate the fall of the USD/RUB quotes with the breakdown of the lower boundary of the «Triangle» model and closing below 64.50.
USD/RUB forecast Russian Ruble November 5 — 9, 2018 involves an attempt to develop a correction to the level of 66.20, where a rebound can be expected and the pair will continue to fall with a potential target near the level of 63.30, the resistance level test will come in favor, the option of reducing the currency pair will cancel breakdown of the 67.20 area, in this case, we can expect a continued growth of the dollar against the ruble.