Currency pair USD/RUB is trading at 79.38. 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 November 2 — 6, 2020
As part of the forecast of the Dollar/Ruble pair, a test level of 77.60 is expected. Where can we expect an attempt 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 82.60. The conservative buying area for the USD/RUB pair is located near the lower border of the Bollinger Bands indicator strip at 76.00.
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 area of 72.20. 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 November 2 — 6, 2020 implies a test level of 77.60. Further, growth is expected to continue to the area above the level of 82.60. The conservative area for buying is located area of 76.00. The cancellation of the growth option for the USD/RUB pair will be the breakdown of the level of 72.20. In this case, we should expect the fall to continue.