Kumowizard
Short

"Simon says:" - Year end short?

FX_IDC:EURHUF   EURO / FORINT
52 1 3
OK, his name is not Simon (real name is "M").... but he is the Fin. Min. in Hungary :-)
And yesterday he had a hint on Reuters, that he would prefer a year end EURHUF-0.40% rate closer to 308-310.
Well, for the constitutional debt to GDP obligation to be met, they may well require it.

On the other side there is another "friend"... let's call him "G". Actually I don't know if they are really friends or not. But "G" doesn't really want EURHUF-0.40% to be any lower, as last year he closed his books ard 316!

However Both "M" and "G" has the same "Boss", and I think he will decide this story and if so, orders "G" to push it somehow to help "M's" year end goal!

We shall see. Purely on technicals a retracement to 312+ is not impossible.


UnCentralBank
a year ago
considering the huge cost associated with trading this pair, i would sit and wait a Tenkan_kijun crossover, or a break below a flat Tenkan sen..... great analysis BTW
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