Ruble: When to buy dollars?

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Monday, October 29, at the end of the trading session on the Moscow exchange rate of the us dollar calculations “tomorrow” increased by 13 kopecks (+0,20%), to 65,85 rubles, Euro – by 6 kopecks (-0,08%), 74,88 to RUB.
The ruble is assertiveness in a basket of currencies. Its growth rate decreased after the fall in oil prices and the completion of the tax period, but for now he keeps the strike with a negative external background. At the end of the day, the Russian currency fell slightly against the us dollar and rose against the Euro.
The US dollar strengthened against the background of favorable data on consumer spending, as well as the thrust extinction risk in response to the downward correction of the us stock indices.
The Euro came under pressure because of the statements of German Chancellor Angela Merkel that it intends to complete a political career and will not be in 2021 to run in Bundestag elections and to nominate his candidate for the post of Chancellor.
Tuesday, 30 October, oil is trading in positive territory. Corrective phase has lasted almost 6 days. Market participants can’t decide to buy crude oil futures or not. Support remains at $75 per barrel. Until the price is above it, the ruble will feel well and to withstand external factors.
Technically ruble pair perfectly stood up for growth. Me to confirm the completion of the downward movement in the pair dollar/ruble need to test the level of 65.25 RUB Another option is consolidation of prices during the day in the range 65,65 – 66,05 RUB with subsequent access to the 66,60 RUB per US dollar. In cycles to bribe currency. The Euro is likely to fall to 73.6, RUB.
Summary: technically and by cycles ruble pair is ready for growth. The ideal situation is to buy currency when the dollar/ruble again down to of 65.25 rubles, while the Euro/ruble on the background of the problems in Europe will fall to 73.6, rubles to Buy foreign currency, you can, but be ready for another bearish wave.
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Vladislav Antonov,
Analyst
Alpari