EURHUF - Bullish or bearish? Major decision point at 307,55
From the left side it is still neutral/bearish, but from the right side it is bullish. In fact it is boring, but it will soon be interesting as support/resistance levels are tightenning.
Daily: Bearish Ichimoku setup, but if it can not print wave 5 point soon, but instead breaks the small bearish trendline and Kijun Sen, then we'll have bullish breakout from the wedge and Price will attack the Kumo.
MACD is bullish with positive divergence, but ADX is very low, which means in short term we can hardly talk about a trend. Once DMI lines start to widen and ADX picks up, we'll see a decent move.
4 Hrs: Everything is simply bullish on this time frame, until Price is above 305,50. The question is if this counter trend can accelerate or will stuck?
As you can see on both time frames, the most important upper key level is ard 307,55. If Price breaks and stays above, that would bring a trend continuation on 4 Hrs and a possible bullish reversal on the daily.
Daily: Bearish Ichimoku setup, but if it can not print wave 5 point soon, but instead breaks the small bearish trendline and Kijun Sen, then we'll have bullish breakout from the wedge and Price will attack the Kumo.
MACD is bullish with positive divergence, but ADX is very low, which means in short term we can hardly talk about a trend. Once DMI lines start to widen and ADX picks up, we'll see a decent move.
4 Hrs: Everything is simply bullish on this time frame, until Price is above 305,50. The question is if this counter trend can accelerate or will stuck?
As you can see on both time frames, the most important upper key level is ard 307,55. If Price breaks and stays above, that would bring a trend continuation on 4 Hrs and a possible bullish reversal on the daily.