Forecast of the Ruble to the Dollar (USD/RUB) - relevant for April 2020

Forecast for the ruble against the dollar (USD / RUB pair), after a strong surge, the price is correcting, let's consider approximate targets.

The chart highlights the main strong levels that will support the price at the moment, and the fibonacci fan also has strong levels, along which the price is going very well.

Monthly chart

Since there are not many levels, only two timeframes are allocated. Weekly levels are highlighted in blue, 1-hour graphics are highlighted in green.

If we build a channel based on the last two points, then the price, as you can see, was squeezed into a triangle, after a drop to the bottom, the price clearly corrected from the level of 61.8 along the fibonacci fan and rushed to test the annual maximum.

Now, apparently, the price will go to the correction, perhaps after such a strong movement, the correction may be protracted.

The nearest stop price range is 64-70 rubles per 1 dollar.

Daily chart

If we build a channel on the daily chart using two points, then as we can see it was broken and tested. The price may continue to decline with successive corrections. Expected corrections with testing of the upper levels may be in the area of 72 prices, where there is a strong 38.2 fibonacci level and the area of prices 65-66.

From these marks, a new strong growth can begin, since in these price ranges (starting from 60 rubles) the price has been in a narrow range for a very long time, which has formed a strong support level.

If you look again at the monthly chart, then the nearest support is 50% about the fibonacci fan, if the price does not hold on it, then the next target is 61.8, which is just located at the levels with a long trade, which will serve as a new breakthrough for updating the highs.

The global targets that are expected for the ruble are marked in white, this is the range from 110 to 120 rubles per 1 dollar. It is not yet possible to say exactly when this will happen, since the news that comes out can both slow down the movement and speed it up.

You can download this template with levels for MT4 link "