Currency pair USD/RUB is trading at 74.32. 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 weekly forecast on December 7 — 11, 2020
As part of the forecast of the Dollar/Ruble pair, a test of the level of 75.80 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 71.60. The conservative area for sales of the USD/RUB pair is located near the upper border of the Bollinger Bands indicator strip at 77.50.
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 78.60 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 weekly forecast on December 7 — 11, 2020 implies a test level of 75.80. Further, it is expected to continue falling to the area below the level of 71.60. The conservative selling area is located area of 77.50. The cancellation of the USD/RUB pair fall option will be the breakdown of the level of 78.60. In this case, we should expect continued growth.