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Oct 13, 2022 6:25 PM

2022-10-W41: USDHUF: Prepare To Drop Short

U.S. Dollar/Hungarian ForintFXCM

Description

Hi friends and fans of Fibonacci

As the price comes to Fib level (1.618, 445.309), it will retrace to some degree, so we could prepare to short. In the past, price retraced at D1 (0.786, 342.943) and D2 (1, 369.273).

Stop Loss: 450.100
Entry D3: 445.309


Target E1: 411.589
Target E2: 387.306
Target E3: 367.680
Target E4: 348.054

Remark: We will update the time when price hits targets in the Comment.

Comment

• We decide to dedicate all of our time and effort to finding the best entries. The exits are on your own decision. As a result, we will not update when trade plan is cancelled, price hits stop/targets, or trade is closed manually anymore.
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Comments
kizaoners
Dont now if you live in Hungary, but I do.
411 would be a dream come true...
387 maybe if war ends and HU complies with the EU regulation.
367 never
348 never never
drmogyi
@kizaoners, 10/10 comment!
Hunter1188
@kizaoners, dream come true
kizaoners
@Hunter1188, yeah, for my/our country would be beneficial is it keeps going down, but on a weekly chart the HUF strongening is at the end, the USD weakening was beacuse of the good news about the inflation, on short term investors dont expect more base rate increase, thats why they sell their USD, but on long term lower inflacion is good.
My current opinion is that on short term (within a year) USD will weaken, but on long lerm USD will be getting a grip
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