USD/HUF Signal Today – 20/06: USD Rallies to 367 HUF (Chart)

Potential signal:

  • I am a buyer of this pair on a breakout. This means I would be buying at 374, with a stop loss at 368.
  • I would also be a buyer on a dip, and would be interested near the 363 level, with a stop loss near the 358 level.
  • As far as a target is concerned, I believe we are looking at 375, followed by 377 above.

USD/HUF Signal Today - 20/06: USD Rallies to 367 HUF (Chart)

The US dollar has rallied a bit during the course of the trading session, showing signs of life near the 367 forint level. The Hungarian forint of course is going to be in the crosshairs of anything happening in Ukraine due to proximity, but at the same time there are a lot of questions asked about the political situation in Hungary, as Victor Orban continues to clash with the European Union.

Hungary still remembers communism, and the idea of having to acquiesce to a foreign government, and therefore might be a little bit more stubborn than some of the other countries in the European Union. It is because of this that the Hungarian forint finds itself just as much a political currency than a tradable one. I think at this point in time, the Europeans will continue to do what they can to push the Hungarians around, but it is interesting that they don’t hesitate the pushback it’s a pretty interesting turn of events.

One of the smartest things that the Hungarians have done has been to keep their own currency. This separates them from the euro, which over the longer term should be a good thing. However, right now it looks like everybody is running to the US dollar, perhaps for safety in the idea of investing in Hungary right now is difficult when you have everything going on in the Ukrainian situation.

Technical Analysis

The technical analysis for this pair is rather positive, with perhaps the exception of a possible double top near the 374 HUF level. If we can break above there, then the market could go much higher, perhaps reaching the 375 level, and beyond. This is a pair that is typically very choppy, but I do think that any time we get a bit of a pullback there will probably be quite a few traders willing to step in and buy this pair in order to find value.

Ready to trade our Forex daily forecast? We’ve shortlisted the best FX trading platform in the industry for you. 

Source link

Visited 1 times, 1 visit(s) today

Related Article

GBP/USD technical price analysis

GBP/USD Price Analysis: Economic Contraction Weakens Pound

The GBP/USD price analysis indicates a weaker UK economy. Data revealed a 0.1% contraction in the UK economy.  Market participants expect the Bank of England to keep rates unchanged next week. The GBP/USD price analysis indicates a weaker UK economy after data revealed an unexpected contraction. Meanwhile, market participants are grappling with the escalating global

Equities Extend Losses on Tariff Fears, But Forex Markets Hold Steady in Consolidation

US stock markets suffered another brutal session overnight, with NASDAQ leading the decline, shedding nearly -2%. All three major indexes closed below their respective 55 W EMAs, reinforcing the bearish case that the markets are now in a medium-term correction phase. This technical breakdown suggests that downside momentum is gaining traction, with investors recalibrating their

How the Federal Reserve Rate Hikes Affect the Forex Market

How the Federal Reserve Rate Hikes Affect the Forex Market

Banks, hedge funds, and other large financial institutions analyze interest rates before trading the forex market, investing in equities, or expanding operations into global markets. This is because interest rates significantly affect the financial markets and are a major indicator of current and future market performances.  The Federal Reserve Role in Driving the US Dollar’s

GBP/USD Forex Signal Today 13/03: Weakly Bullish (Chart)

GBP/USD Forex Signal Today 13/03: Weakly Bullish (Chart)

Created on March 13, 2025 My previous GBP/USD signal on 6th March was not triggered, as there was no bullish price action when the support level at $1.2877 was first reached. Today’s GBP/USD Signals Risk 0.75%. Trades must be entered prior to 5pm London time today only. Long Trade Ideas Go long following a bullish

Avexbot Brings Institutional-Grade AI Analytics to GBP/USD Trading

Avexbot Brings Institutional-Grade AI Analytics to GBP/USD Trading

Limassol, Cyprus, March 13th, 2025, FinanceWire   Avenix Fzco has launched Avexbot, an AI-enhanced trading system that introduces a precision-focused approach to GBP/USD trading by combining institutional-grade analytics with real-time market adaptability. Designed for traders who demand both speed and accuracy, Avexbot processes high-quality tick data, analyzes daily candlestick trends, and adjusts its execution strategy

EUR/USD technical outlook

EUR/USD Outlook: US-EU Trade Tensions Pause Euro Rally

The EUR/USD outlook shows growing trade tensions between the US and the Eurozone. Trump implemented a 25% tariff on steel and aluminum imports. US inflation increased by 0.2% in February, down from 0.5%. The EUR/USD outlook shows growing trade tensions between the US and the Eurozone that are weighing on the euro. However, soft US

Photo of Gold Standard

Is MT4 still the gold standard for online trading in 2025?

(Submitted Photo/DigitalFreePress) Sponsored Content | Digital Free Press Forex trading was limited to large financial institutions before online trading platforms became accessible to individual traders. After MetaTrader 4 launched in 2005, retail traders gained online access to the forex market, allowing more individuals to explore the forex market for profit. Before long, MT4’s outstanding trading

BTC/USD Forecast Today 13/03: Bitcoin Volatile Ride (Chart)

BTC/USD Forecast Today 13/03: Bitcoin Volatile Ride (Chart)

Created on March 13, 2025 The bitcoin market has a bit of bent stomach churning during the trading session on Wednesday as we have seen a little bit of a pullback early, only to turn around and skyrocket toward the $85 level. This was mainly in reaction to the cooler than anticipated CPI numbers, as

Greenback Strengthens as Euro Pulls Back and US-EU Trade Tensions Escalate

Dollar is staging a notable rebound as markets transition into US session, though the exact catalyst behind the move is unclear. Part of Dollar’s strength could be attributed to a broad pullback in Euro, as traders begin to take profits after this month’s strong gain. Euro’s retreat is providing the greenback with some temporary relief.

LSEG says FX trading system's technical issue in India resolved — TradingView News

LSEG says FX trading system’s technical issue in India resolved — TradingView News

Technical issues that blocked some traders’ access to the foreign exchange trading platform run by the London Stock Exchange Group LSEG have been resolved, the financial technology and data provider said on Thursday. Some customers experienced temporary access disruptions with forex trading in India from 02:15 GMT to 06:26 GMT on Thursday “due to a

ET logo

Rupee ends higher on foreign banks’ dollar sales, positional adjustments

The Indian rupee rose on Thursday, aided by dollar sales from foreign banks and the trimming of short bets against it, over a trading session that was impacted by an outage on the London Stock Exchange Group’s (LSEG) foreign exchange trading platform. The rupee closed at 86.9975 against the U.S. dollar, up 0.2% on the

Euro and Pound Strengthen to Strategic Levels

The chaos brought by Donald Trump to the US economy, introducing tariffs on China, Canada, and Mexico, has contributed to the strengthening of the euro, pound, and Swiss franc. The situation remained unchanged even after the release of US inflation data yesterday. According to the published figures, the core consumer price index declined more than

IG Group registers 12% Y/Y increase in revenues in Q3 FY25

IG Group registers 12% Y/Y increase in revenues in Q3 FY25

Electronic trading major IG Group Holdings plc (LON:IGG) today issues its revenue update for the three months to 28 February 2025 (“Q3 FY25”), representing the third quarter of the financial year ending 31 May 2025. Total revenue of £268.0 million increased 12% on the year-ago quarter and 10% on the prior quarter. Within this, trading

Ansoku Kuro

Day Trading Forex over Stocks and Bitcoin | by Ansoku Kuro | Mar, 2025

Keep Day Trading Simple Photo by Kanchanara on Unsplash I’ve always day traded Forex. I have never played with real money when it comes to day trading crypto and for good reason. I do invest in Bitcoin. Every week I will buy between £10/£30 worth of it. I hold this or set and forget about

GBP/USD Forecast Today 12/03: Continued Rally (Video)

GBP/USD Forecast Today 12/03: Continued Rally (Video)

Created on March 12, 2025 The British pound has been very bullish for some time, and it’s interesting that during the trading session on Tuesday, we’ve seen more of the same, despite the fact that we’ve seen a lot of hesitation recently. That being said, I think we’ve got a situation where the 1.30 level

EUR/JPY Forecast Today 12/03: Eyes Breakout (Video)

EUR/JPY Forecast Today 12/03: Eyes Breakout (Video)

Created on March 12, 2025 The euro has initially pulled back just a bit against the Japanese yen on Tuesday, only to skyrocket toward the 200-day EMA. This is a pair that I think, given enough time, will probably try to break above the ¥162 level. If it does, that opens up the possibility of

USD/MXN Forecast Today 13/03: Key Support Level (Video)

USD/MXN Forecast Today 13/03: Key Support Level (Video)

Created on March 13, 2025 The US dollar has drifted a bit lower during the trading session on Wednesday against the Mexican peso as it has basically struggled against quite a few different things. So, with that being said, I think you’ve got a situation where traders are looking at the 20 pesos level as

Forextime Reviews & News: Investors Can Trace Their Lost Funds

Investors Can Trace Their Lost Funds

InvestorWarnings.com has issued a new update on the ForexTime case. People who invested in the scheme can trace their funds here: https://www.investorwarnings.com/warnings/get-expert-assistance-on-your-case/ Regulatory Warnings Against ForexTime ​ForexTime (FXTM) is a globally recognized online forex trading platform operating under the Exinity Group. While FXTM is duly regulated in various jurisdictions, investors should be vigilant about unauthorized

EUR/USD Forecast Today 12/03: Extends Gains (Chart)

EUR/USD Forecast Today 12/03: Extends Gains (Chart)

Created on March 12, 2025 During the trading session on Tuesday, we have seen even more bullish pressure for the euro, as yields in Germany continue to climb. As long as that is going to be the case, it makes the euro a bit more attractive than the US dollar, which people are starting to

Gold Forecast Today 12/03: Bullish Flag Higher (Chart)

Gold Forecast Today 12/03: Bullish Flag Higher (Chart)

Created on March 12, 2025 The gold market continues to look very strong on Tuesday, as the gold market has been forming a massive bullish flag, which will be catching the attention of most traders. In fact, I suspect that most technical traders are already involved or at least waiting to be so. For what

0
Would love your thoughts, please comment.x
()
x