Currency pair USD/RUB is trading at 58.50. Quotations of the pair are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for Dollar/Ruble. At the moment, the quotes of the pair are moving near the lower border of the bands of the Bollinger Bands indicator. A level test 58.70 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 57.80.
USD/RUB forecast Dollar Ruble on November 23, 2017
The conservative sales area is located near the middle border of the Bollinger Bands indicator strip at the level of 59.30. The abolition of the option of continuing the fall of the Dollar/Ruble pair will be a breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of quotations of the pair above the area of 59.50, indicating a change in the bullish trend for Dollar/Ruble. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.