What has changed in last two days?
- The Kumo and horizontal resistance ard 309,75-310 blocked further move as Price got oversold
- Slow is about to deliver a signal (this indicator is very reliable in EURHUF when the signal happens at key levels)
- Heiken Ashi candle may signal a reversal too, haDelta crossed above SMA3 after printing an extreme low.
- area is between 315,50-317,50. There we have to watch for Slow Sroch and haDelta signals again.
Be careful with long EURHUF trades, as the main picture has been changing: weak Tenkan/Kijun cross, overshading Kumo, neutral/bearish Chikou Span from now. As I wrote in my previous post, I'd rather look for short entry at key levels if I see any sell signals.
- HA candles, haDelta is again above SMA3, both lines managed to stay above zero level
- DMI bias is lost, close to a cross
- Chikou Span losing its open space
- However the Kumo is thick, providing strong suppor between 315,50-317,50
Note: NBH rate setting due today. Market is pricing in further rate cuts for the future. Wether it happens today or later, or if it happens at all, no one knows. Anyway, we have to trade on Price action rather than belief.