The greenback appears to be the primary currency of the Forex market. That’s an essential component of many Forex assets except for cross-pairs. The Federal Reserve issues the evergreen buck. This major bank does everything required to stabilize the primary American currency. Fed meetings are responsible for enormous market volatility. You need taking into account the dates of Fed meetings when creating your trading strategy.
The US economy leads in terms of size. Among the principal trade partners of the United States, we can see China, Canada, and the European Union. The greenback boasts the status of a reserve currency. It’s widely used for international payments.
Hungary appears to be one of few countries, which managed to preserve its monetary units having joined the European Union. However, it created many difficulties for this European country. For example, companies trading in the domestic European market prefer to keep their assets outside of Hungary.
The Hungarian economy isn’t ranked high in the region. In terms of economic strength, this country can’t outperform Poland and the Czech Republic. In an attempt to make the Hungarian economy competitive, many local businesses have reduced their employees’ wages that generated a bunch of economic issues.
As for the Hungarian GDP rally, it’s slow enough. The national currency shows a strong reaction to any event, even if it doesn’t relate to it. However, these features attract investors. The essential advantage of this currency pair is high volatility.
The currency pair has an unpredictable nature, ideally suited for scalpers. In this case, long-term and medium-term strategies can hardly work. You’d better rely on the short-term plans.
Some news predictably influences the currency pair USD/HUF. For example, these are GDP, the unemployment rate, and any changes in the interest rate set by the country’s principal bank. News from the United States also influences the forint quotes. You should monitor America’s key macroeconomic indicators to be aware of the market situation.
To make a profit from this currency pair, you need to combine technical and fundamental analysis properly. The given approach will enable you to work out a good trading strategy. Moreover, you should determine trends in different timeframes. Make use of technical indicators for better clarity. Thus, you’ll timely notice changes in market trends. For this purpose, you can effectively utilize moving averages.
Furthermore, you require closely watching other currency pairs, such as CHF/USD, EUR/USD, and GBP/USD. Pay special attention to any news relating to the evergreen buck because all currency pairs where it’s already included react to this. Furthermore, you require wisely using leverage. Never sacrifice more than 10% of your trading deposit.
|AUD/CAD||Course Australian Dollar to Canadian Dollar||3.8||0.9234|
|AUD/CHF||Course Australian Dollar to Swiss Franc||3.7||0.68988|
|AUD/JPY||Course Australian Dollar to Japanese Yen||29.8||85.609|
|AUD/NZD||Course Australian Dollar to New Zealand Dollar||3.2||1.04449|
|AUD/USD||Course Australian Dollar to US Dollar||2.7||0.74737|
|CAD/CHF||Course Canadian dollar to Swiss franc||3.9||0.74695|
|CAD/JPY||Course Canadian dollar to Japanese yen||3||92.69|
|CHF/JPY||Course Swiss Franc to Japanese Yen||4||124.068|
|EUR/AUD||Course Euro to Australian Dollar||3.3||1.5559|
|EUR/CAD||Course Euro to Canadian Dollar||3.4||1.43695|
|EUR/CHF||Course Euro to Swiss Franc||3||1.07356|
|EUR/DKK||Course Euro to Danish Krone||5.2||7.44015|
|EUR/GBP||Course Euro to British Pound||2.8||0.84322|
|EUR/JPY||Course Euro to Japanese Yen||3.4||133.219|
|EUR/MXN||Course Euro to Mexican Peso||37||23.532|
|EUR/NOK||Course Euro to Norwegian Krone||40||9.70973|
|EUR/NZD||Course Euro to New Zealand Dollar||7||1.62532|
|EUR/PLN||Course Euro to Polish Zloty||25||4.58485|
|EUR/RUB||Course Euro to Ruble||73.3||82.4767|
|EUR/SEK||Course Euro to Swedish Krona||37||10.0344|
|EUR/TRY||Course Euro to Turkish Lira||12.5||10.8156|
|EUR/USD||Course Euro to US Dollar||2.5||1.16303|
|EUR/ZAR||Course Euro to South African Rand||5.5||16.8814|
|GBP/AUD||Course British Pound to Australian Dollar||5.9||1.84491|
|GBP/CAD||Course British Pound to Canadian Dollar||6.8||1.70386|