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U.S. Dollar / Hungarian Forint

USD/HUF technical analysis: three white soldiers bullish pattern

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USD/HUF technical analysis


The worst-performing currency today is the Hungarian forint, down by more than 1% on the day against the USD (USD/HUF), as Russian gas disruptions fuelled selling pressures on Central Eastern European currencies.

The latest candlesticks analysis provides a strong bullish signal generated by the three white soldiers pattern. This pattern can be identified by the appearance of three green candles in a row, each with a higher open and close than the previous day.

The USD/HUF pair has crossed the 400-mark, returning to 2-week highs after a 7 percent decline from its July 12 high to the end of last week.

The confirmation of the bullish trend and the strong momentum of buyers – the RSI is on the rise – might lead USD/HUF to test the next resistance levels at 406 (July 15 Highs) and then the all-time high of 414 reached on July 12.
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Chart PatternsForexforexanalysisforexsignalsforextradingforinthungarianfiorintTechnical IndicatorsUSDHUF
Capitalcom
Broker
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.