Fri. Apr 19th, 2024

The usdhuf forex pair is consolidating nicely (+7 months) after reaching it’s target from a bullish breakout early this year. The new break lines have been drawn along with their implied measured moves when a monthly candle can close beyond them. Check out the monthly candle chart. A convincing close above 283 would give a bullish target of 296. A close below 270 would give a target at 257.


More of the same on the 5 year weekly candle chart.


A final zoom in on the 1 year daily candle chart. Current price action just tested the breakdown line.


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