My last long EURHUF trade was not triggered as Price quickly dropped back below 4 Hrs Kumo. By now Price reached again key levels, where price action of next few days will be very important.
Daily: After almost perfect Kijun retest Price fall back to bullish trendline and horizontal Key support. DMI opened back to bearish, but this is less relevant until ADX is decreasing. MACD almost crossed bullish, but back to flat. SLST up, then down, no reliable information now.
In terms of Ichimoku this pair had some bearish bias so far, but if fails to clear the previous key support/resistance ard 304-305, it can quickly become sideaway again, and might even reverse up. The flattening of averages may point towards this scenario too. All lines are getting flat, which means EURHUF is loosing both short and longer term bearish momentum.
4 Hrs: We had a false bullish break last week, Price dipped back below Kumo. Tenkan/Kijun made a medium bearish cross, but still Chikou Span could not cross back below Price candles. After reaching previous low, there was no follow through, so it dod not have a lower low, and SLS turning back up. It is a big question here if we'll see a double bottom? If the answer will be yes, then on next break attempt EURHUF will really tgt 312-312,50
Lower support is 305, upper resistance is 308.
Basically we have to watch this 4 Hrs triangle in next few days. If it breaks there will be a quick move in the direction of the break.
Daily: After almost perfect Kijun retest Price fall back to bullish trendline and horizontal Key support. DMI opened back to bearish, but this is less relevant until ADX is decreasing. MACD almost crossed bullish, but back to flat. SLST up, then down, no reliable information now.
In terms of Ichimoku this pair had some bearish bias so far, but if fails to clear the previous key support/resistance ard 304-305, it can quickly become sideaway again, and might even reverse up. The flattening of averages may point towards this scenario too. All lines are getting flat, which means EURHUF is loosing both short and longer term bearish momentum.
4 Hrs: We had a false bullish break last week, Price dipped back below Kumo. Tenkan/Kijun made a medium bearish cross, but still Chikou Span could not cross back below Price candles. After reaching previous low, there was no follow through, so it dod not have a lower low, and SLS turning back up. It is a big question here if we'll see a double bottom? If the answer will be yes, then on next break attempt EURHUF will really tgt 312-312,50
Lower support is 305, upper resistance is 308.
Basically we have to watch this 4 Hrs triangle in next few days. If it breaks there will be a quick move in the direction of the break.
