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U.S. Dollar / Hungarian Forint

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USDHUF trade ideas

USD/HUF will continue to move higher in the following daysThe pair will continue to move higher in the following days after it broke out from a major resistance line. Donald Trump became the fourth president impeached by the US Congress and the second to dodge it. The House of Representative impeached President Trump last December 18 on grounds of abuse of power and obstruction of congress. This was after his solicited foreign interference in the 2020 US presidential election to help his re-election bid. A phone call with then newly elected Ukrainian President Volodymyr Zelensky was the root of the impeachment. Trump withheld military aid to the NATO (North Atlantic Treaty Organization) applicant and an invitation to the White House. Trump will only revoke it if the Ukrainian president investigates Trump’s opponent’s son, Hunter Biden. Despite strong accusations against him, the House of Senate comes to his aid and acquit him of impeachment.
Long
by Financebroker
USD/HUF will continue its rallyThe pair will continue its rally, sending the pair higher towards an uptrend resistance line. As the US-EU relationship falters, America has found a friend from a member state. Hungary’s populist leader has been making noise inside the bloc with his populist government. He led the rise of the Visegrad Group, an eastern bloc inside the European Union. Together, they pressured the Germano-Franco alliance in giving up some of their powers. The election of the European Commission president, Ursula von der Leyen, saw a bigger role for the V4 nations. Hungary got a vice-presidential position, holding the EU Enlargement portfolio. The country’s plan to include countries of the former Yugoslavia had created tension with French President Emmanuel Macron. Hungary is now calling for the EU to clarify its position in Iran and to move closer to the United States. The US was able to establish its influence with the Visegrad Group.
by Financebroker
USDHUF: Break-out or Pull back. How to trade.USDHUF is trading on a long term 1M Channel Up (RSI = 59.447, MACD = 6.440, ADX = 46.694, Highs/Lows = 6.8414) since 2019 Q4. Right now it is ahead of a key level the 1D Lower High trend line (dashed). A rejection gets us back to the Higher Low trend line of the 1M Channel Up, while a break out begins a new bullish sequence. Our TP is 311.000 if the break out happens. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
by InvestingScope