The ruble remained without support, will he be able to resist

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Friday, October 26, at the end of the trading session on the Moscow exchange rate of the us dollar calculations “tomorrow” increased by 12 kopecks (+0,19%), to of 65.72 rubles, Euro – by 33 kopecks (+0,45%), to RUB 74,95
According to the results of Friday’s trading, the Russian currency fell against foreign currencies. Negative influence on rouble was rendered by a decline in interest to risk from-for falling of world stock indices. Their fall turned into a surge of demand for the Japanese yen. The SP500 fell by 1.19%, the DJIA was 1.73%, NASDAQ – on 2,06%. Sale of shares intensified after the publication of quarterly reports of large companies such as Amazon and Google, as well as American statistics.
The recovery in oil prices kept weakening of the ruble against the U.S. dollar. Brent crude oil rose from $75,75 to $77,98. Market participants reacted to the decision of the CBR to keep rate unchanged at 7.5% per annum.
Monday, 29 October, oil is trading to the downside. Customers in oil to raise the price to $79,50 per barrel, so the rally continued. While the oil market is in a corrective phase after the price drop on 24 October, to $75,33 per barrel.
The peak of tax payments has passed. The ruble remained without support. In addition to his negative impact on emerging market currencies is having a weakening of the yuan. Its rate falls six months as a result of escalating trade conflict with China the United States. Shoppers in the dollar are preparing to pass the mark of 7.00 yuan.
Technically ruble pair are for growth. I believe that the pair dollar/rouble should return to 65.22 per RUB you Need to check the power of the buyers, they are ready to buy the dollar or not. If they will protect the area 65,10-of 65.25 rubles, it is possible to transfer rubles to the dollar. The downward correction to 60.25 RUB with the subsequent rebound has strengthened the pattern reversal in the pair dollar/ruble.
The Euro/ruble also ready for growth, but there is a bit more complicated, as the Euro is under pressure from uncertainty around Italy and the process of Brexit. If buyers can hold price 74,50 RUB for two days, then Euro could be bought for rubles.
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Vladislav Antonov,
Analyst
Alpari