USDHUF - Noise, undecision, but maybe some bearish bias
I am becoming more and more bearish biased generally on USD, at least looking forward to the next few months. The more USD crosses I look at, the more I feel we are ahead of a major global USD correction. Of course it will be all about the big question of "FED rate hike, hike later, no hike?". My personal feeling is that we will not see a hike in June, maybe we will see a small hike in September. In this case all those heavily loaded USD longs will start to unwind partially their positions, so USD will become more volatile and will be under pressure between May and August.
However I try not to follow my feelings, but rather what charts call for, so let's have a look at USDHUF chart this time.
Daily:
- Major bullish trend, which started from May/2014 can remain valid, but some correction can happen if Price gets another push below the Kumo cloud.
- Ichimoku setup is absolutely neutral right now. Price is trading around the equilibrium level of 280. All averages (Tenkan, Kijun, Senkou A and B stay together at this level, with some confusion, as Tenkan is above Kijun (medium bullish) but Senkou A points down and is below Senkou B, which means future kumo is a bit bearish biased now.
- Heikin Ashi has been giving mixed signals. haDelta/SMA3 has been swinging around zero line. We need to see some more action.
Let's have a look at the lower time frame.
4H:
- Ichimoku setup is totally neutral. Price is swinging around equilibrium, all average lines are flat and stay appr. same level, Chikou is at past candles.
- Price has been trading in a symmetrical tightenning triangle -> waiting for a break
- DMI/ADX is neutral, says no trend in place
- Heikin Ashi setup is short term bearish biased
A Price close below 276,50 would be a bearish trigger. In that case USDHUF can retest the very important horizontal support ard 267.
However I try not to follow my feelings, but rather what charts call for, so let's have a look at USDHUF chart this time.
Daily:
- Major bullish trend, which started from May/2014 can remain valid, but some correction can happen if Price gets another push below the Kumo cloud.
- Ichimoku setup is absolutely neutral right now. Price is trading around the equilibrium level of 280. All averages (Tenkan, Kijun, Senkou A and B stay together at this level, with some confusion, as Tenkan is above Kijun (medium bullish) but Senkou A points down and is below Senkou B, which means future kumo is a bit bearish biased now.
- Heikin Ashi has been giving mixed signals. haDelta/SMA3 has been swinging around zero line. We need to see some more action.
Let's have a look at the lower time frame.
4H:
- Ichimoku setup is totally neutral. Price is swinging around equilibrium, all average lines are flat and stay appr. same level, Chikou is at past candles.
- Price has been trading in a symmetrical tightenning triangle -> waiting for a break
- DMI/ADX is neutral, says no trend in place
- Heikin Ashi setup is short term bearish biased
A Price close below 276,50 would be a bearish trigger. In that case USDHUF can retest the very important horizontal support ard 267.
