By now EURHUF is trading above the Kumo, while all other indicators are in bullish mode too. This means the bullish trend looks finally resumed. What can we expect here? I think despite the bullish setup, a pull back is due here as the cross reached an important first resistance ard 310, and also daily Slow Stoch is at overbought level.
The pull back tgt based on both the daily chart and the 4 Hrs time frame can be ard 307,50. That is a good support now and likely a good entry area to trade in line the re-newed bullish trend. So you can take partial profit here and try longs again between 307-308, but going short is not a reasonable risk-reward, and not recommended at all.
The next price target for the major bullish trend is going to be 312,75 - 313,25.
Comments
motleifaul
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That's it. I took the profit this morning. I was a bit late to enter the long as I had expected the pullback earlier. But nevertheless - a little profit is better then a heavy loss.