EURHUF is consolidating, though the consolidation range is very wide: 308,15 - 314. I have never ever done this kind of price pattern projection before, but this time I find it interesting, with some "if" to add.
Upside with "IF"s: If Daily Ichimoku setup still favours long (still good chance in all parameters), if the inner trendchannel bottom and key horizontal support of 308,15 hold (good chance as my favourite indicator on EURHUF, the Slow Stoch is turning up again) + the if fundamentals and mkt conditions stay as they are: Hungarian National Bank remains as dovish as before (very likely), Ukraine situation escalates, if ECB will be less dovish and doesn't cut next week (for now mkt thinks it is very likely) ... THEN: the above pattern can develope to a big increasing bull flag, with a major tgt to 325 lvl! Downside: Since most of the upside "If" criterias have higher probability, the downside can be limited, with a move to 305,50, or the best to 300, where now we have a multi year uptrend line.
Pls note, that the light blue px projection is just an interesting copy-paste feature that I think would be funny to follow, but not necessarely mean it will really trade same pattern. Again, as a trend trader I never do any subjective px projection like this on my charts. If I see this trend ending, and px clearly breaks below the 307,50-308 range I drop the long idea, and will stay NEUTRAL (so not short) until I see any further chance to safely re-enter any directions.
Upside with "IF"s: If Daily Ichimoku setup still favours long (still good chance in all parameters), if the inner trendchannel bottom and key horizontal support of 308,15 hold (good chance as my favourite indicator on EURHUF, the Slow Stoch is turning up again) + the if fundamentals and mkt conditions stay as they are: Hungarian National Bank remains as dovish as before (very likely), Ukraine situation escalates, if ECB will be less dovish and doesn't cut next week (for now mkt thinks it is very likely) ... THEN: the above pattern can develope to a big increasing bull flag, with a major tgt to 325 lvl! Downside: Since most of the upside "If" criterias have higher probability, the downside can be limited, with a move to 305,50, or the best to 300, where now we have a multi year uptrend line.
Pls note, that the light blue px projection is just an interesting copy-paste feature that I think would be funny to follow, but not necessarely mean it will really trade same pattern. Again, as a trend trader I never do any subjective px projection like this on my charts. If I see this trend ending, and px clearly breaks below the 307,50-308 range I drop the long idea, and will stay NEUTRAL (so not short) until I see any further chance to safely re-enter any directions.