For quite some time, EURHUF has been trading sideways. The 307 level has been very important in the last decade, many trend changes happened at this level.
On Thursday, after the FED, the Hungarian Forint accelerated strongly and broke below the 307 level. Today, half of that move has been corrected, and price closed above the 307 level today, forming a class A bullish divergence. I expect price to reach the ceiling of the range, around 317. Stop below the swing low.
On Thursday, after the FED, the Hungarian Forint accelerated strongly and broke below the 307 level. Today, half of that move has been corrected, and price closed above the 307 level today, forming a class A bullish divergence. I expect price to reach the ceiling of the range, around 317. Stop below the swing low.