Currency pair USD/RUBis trading at 73.52. Quotes of the pair are trading above the moving average with a period of 55. This indicates the presence of a bullish trend for pair Ruble/Dollar. At the moment, the pair quotes are moving near the upper border of the Bollinger Bands indicator bars.
USD/RUB weekly forecast on August 10 — 14, 2020
As part of the forecast of the Dollar/Ruble pair, a test of the level of 72.60 is expected. Where can we expect to try to continue the growth of the USD/RUB pair and the further development of the upward trend. The purpose of this movement is the area near the level of 77.80. The conservative buying area for the USD/RUB pair is located near the lower border of the Bollinger Bands indicator bars at 70.40.
Cancellation of the option to continue the growth of the Dollar/Ruble pair will be a breakdown of the area of the lower 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 below the 66.80 area. This will indicate a change in the current trend in favor of the bearish for USD/RUB. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration of growth.
USD/RUB weekly forecast on August 10 — 14, 2020 implies a test level of 72.60. Further growth is expected to continue to the area above the level of 77.80. The conservative area for buying is located area of 70.40. The cancellation of the growth option for the USD/RUB pair will be the breakdown of the level of 66.80. In this case, we should expect the fall to continue.