Currency pair USD/RUB is trading at 78.10. Quotes of the pair are trading below the moving average with a period of 55. This indicates the presence of a bearish trend for pair Ruble/Dollar. At the moment, the pair quotes are moving near the lower border of the Bollinger Bands indicator bars.
USD/RUB forecast Dollar Ruble on November 6, 2020
As part of the forecast of the Dollar/Ruble pair, a test of 78.60 is expected. Where can we expect an attempt to continue the fall of the USD/RUB pair and the further development of the downward trend. The purpose of this movement is the area near the level of 76.30. The conservative area for sales of the USD/RUB pair is located near the upper border of the Bollinger Bands indicator strip at 81.20.
Cancellation of the option to continue the fall of the Dollar/Ruble pair will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair above the 82.50 area. This will indicate a change in the current trend in favor of the bullish for USD/RUB. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.
USD/RUB forecast Dollar Ruble on November 6, 2020 implies a test level of 78.60. Further, it is expected to continue falling to the area below the level of 76.30. The conservative selling area is located area of 81.20. The cancellation of the USD/RUB pair fall option will be the breakdown of the level of 82.50. In this case, we should expect continued growth.