Room to fall - Sell signal

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While Hungarian Central Bank tries to deploy all tools to prevent serious drop in EURHUF             ( HUF             appreciation), the USDHUF             is something they can not control. As both FED FOMC meeting, NBH meeting and Hungary's upgrade to investment grade by Standard and Poors is all behind us, it is time to examine the USDHUF             chart.

- Ichimoku setup has strbthenning bearish bias: Price is below Kijun and Kumo, Tenkan/Kijun is meadium bearish , however Chikou Span is still at past candles. Chikou/past Kumo relation will be very important to follow in this case, as that reflects possible resistances ahead (first serious resistance will come around 268-270)
- Heikin-Ashi has been indecisive for last four weeks, but if you look at haOscillator, you can see it is possibly rolling over to bearish again below its zero line.
- EWO             and MACD are bearish
- Price pattern looks like a bear flag . It's longer term measured target points to as low as 250 (!). Maybe it is hard to immagine now, but long term trends take long time to develop... that's why we call it long term :-D

Note: the purpe measure arrow doesn't mean I expect to reach 250 straight down by december 2016. It just shows the the possible distance to the measured target

- Bearish Ichimoku setup. Kijun Sen has been holding nicely. There were spikes above occasionally, but price always dropped back and closed below Kijun quickly.
- Heikin-Ashi gives a very clear sell signal now! haOscillator to confirm later.
- EWO             is bearish

Real bearish acceleration can happen below 272. A quick move to 269-270 first target is possible, there we'll see.
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