USD HUF

USDHUF Currency pair flag

Latest USD HUF Analysis

G10 FX Monthly Candlesticks June 2019

Summary of the June monthly candlestick, along with trending & momentum developments across G-10 FX and implications for months ahead.

EURUSD

  • Monthly Candle: Strong bull candle with close above April & May highs. Large body shows strong sentiment.
    • Implication: Trimming losses after April/May show indecision through long legged Doji and Spinning Top patterns. Confirms a pause in the ongoing 2018 decline.
  • Trending: 12 month MA @ 1.1364, continues to fall.
  • Momentum: RSI (9) @ 42. Stochastics (10-6-3) positively aligned, rising out of oversold.
  • YTD Return: -2.78%
EURUSD Chart June 2019

GBPUSD

  • Monthly Candle: Spinning top formation in June after May’s large body selloff.
    • Implication: Market pauses and downside momentum fades after it stages a strong bear move.
  • Trending: 12 month MA @ 1.2885, continues to fall.
  • Momentum: RSI (9) @ 36. Stochastics (10-6-3) negatively aligned, falling towards oversold.  
  • YTD Return:  -1.51%
GBPUSD Chart June 2019

USDCHF

  • Monthly Candle: Long bear body in June after May’s Marubozu Shaven Bottom. Prices close at its lowest since September 2018.
    • Implication: Bearish pressures continued in June. Market rejects Jan low and suggests bulls still alive.
  • Trending: 12 month MA @ 0.9924, flat.
  • Momentum: RSI (9) @ 49. Stochastics (10-6-3) negatively aligned, falling towards neutral.
  • YTD Return: +1.72%
USDCHF Chart June 2019

NZDUSD

  • Monthly Candle: Bullish Marubozu candle closing above May’s high. Market continues to hold key psychological figure of 0.65.
    • Implication: Bulls take control as market tries to approach 2018 lows, stalling the overall negative bias.
  • Trending: 12 month MA @ 0.6704, continues to fall.
  • Momentum: RSI (9) @ 44. Stochastics (10-6-3) negatively aligned, flat and neutral.
  • YTD Return: -1.45%
NZDUSD Chart June 2019

AUDUSD

  • Monthly Candle: Bullish Hammer Candle, however, body about the same size of shadow. Prices stall at the 23.6% fibo at 0.6829 of the 2019 rally.
    • Implication: Market halts further declines after April/May weakening. Large shadow suggests strong bull interest at lower levels.
  • Trending: 12 month MA @ 0.7166, continues to fall.
  • Momentum: RSI (9) @ 38. Stochastics (10-6-3) positively aligned, flat and neutral.
  • YTD Return: -1.31%
AUDUSD Chart June 2019

USDJPY

  • Monthly Candle: Doji candle in June after May’s bearish Marubozu Shaven Bottom. June touches lowest since Jan flash crash at 106.78.
    • Implication: Indecision candle stalls losses. Market generally balance but bears have some control over bulls.
  • Trending: 12 month MA @ 110.64, begins to turn lower.
  • Momentum: RSI (9) @ 41. Stochastics (10-6-3) negatively aligned, falling through neutral.
  • YTD Return: -2.42%
USDJPY Chart June 2019

USDCAD

  • Monthly Candle: Large negative Marubozu candle. Closes at its lowest since October 2018.
    • Implication: Recent rally in danger as sellers take control of the market and hold onto key close. They keep the sideways picture intact.
  • Trending: 12 month MA @ 1.3229, flat.
  • Momentum: RSI (9) @ 48. Stochastics (10-6-3) negatively aligned, falling towards neutral.
  • YTD Return: -0.03%
USDCAD Chart June 2019

USDNOK

  • Monthly Candle: Large negative candle in June. First losing month since January.
    • Implication: Multiple failures of a close above resistance c.8.80 causes sellers to attack and keep pair from breaking out of long term range.
  • Trending: 12 month MA @ 8.5205, continues to rise.
  • Momentum: RSI (9) @ 55. Stochastics (10-6-3) negatively aligned, falls out of overbought.
  • YTD Return: -1.74%
USDNOK Chart June 2019

USDSEK

  • Monthly Candle: Negative candle in June after May’s Gravestone Doji. First losing month since January-similar to USDNOK.
    • Implication: Buyers lose control after failing multiple time to close above 9.50. For now, reversal pattern take steam out of the 1 and a half year bull run.
  • Trending: 12 month MA @ 9.1918, continues to rise.
  • Momentum: RSI (9) @ 60. Stochastics (10-6-3) negatively aligned, falls out of overbought.
  • YTD Return: +10.77%
USDSEK Chart June 2019

DXY

  • Monthly Candle: Long bear candle. Buyers struggled to push prices above the open. Market fails at 61.8% fib level of the 2017-2018 decline at 97.83.
    • Implication: Upside continuation paused by sellers, keeping it within the 2019 range.
  • Trending: 12 month MA @ 96.23, continues to rise.
  • Momentum: RSI (9) @ 53. Stochastics (10-6-3) negatively aligned, falls out of overbought.
  • YTD Return: +1.3%

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Other major currency pairs


BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.


USD/HUF – Live and Historical Rates

In this pair, the USD is obviously a major currency, while the HUF is not. The pair that the two make is not a major pair nor a commodity one. The attached chart shows the amount of HUF it takes to purchase a USD.

The USD

The USD is the undisputed king of major currencies thus far, though the EUR has begun mounting a challenge as of late – at least according to some experts. The USD is the most traded currency in the world, and it is the most popular reserve currency as well. The USD was the currency that began the floating trend back in the 70s, a trend which is now the mainstream.

The strength of the US dollar is drawn from the massive economy of the country, and its massive internal market. Every significant economic sector is well represented in the US economy, beginning with energy and various commodities, and wrapping up with manufacturing and finance.

The HUF

Introduced in 1946 in its current form, the Hungarian Forint is a currency the roots of which reach back several centuries. It is the only currency once used by a socialist country that is still in use today. Though some say that the days of the Forint are numbered, as Hungary is seeking to replace it with the Euro, that isn’t necessarily true. Lately, there has been a marked drop in the enthusiasm regarding the adoption of the EUR. The head of Hungary’s National Bank now puts the earliest possible EUR adoption date to 2031.

USDHUF Analysis

The Forint is closely correlated with the Euro, therefore the biggest influence on its value is exerted by various political developments touched off by Hungary’s adoption of the common currency. The USD/HUF pair is not particularly suited to carry trading.

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