Currency pair USD/RUBis trading at 70.83. 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 quotes of the pair are moving near the middle border of the Bollinger Bands indicator stripes.
USD/RUB weekly forecast on July 13 — 17, 2020
As part of the forecast, the pair Dollar/Ruble is expected to test the level of 72.30. Where can we expect an attempt to continue the fall of the USD/RUB pair and further development of the downward trend. The purpose of this movement is the area near the level of 65.60. The conservative area for sales of the USD/RUB pair is located near the upper border of the Bollinger Bands indicator strip at 72.40.
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 stripes. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 76.80. This will indicate a change in the current trend in favor of the bullish for USD/RUB. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall.
USD/RUB weekly forecast on July 13 — 17, 2020 implies a test level of 72.30. Further, it is expected to continue falling to the area below the level of 65.60. The conservative sale area is located is near the area of 72.40. The cancellation of the fall option for the USD/RUB pair will be the breakdown of the level of 76.80. In this case, we should expect continued growth.