Kumowizard

USDHUF - Consolidation, undecision, major move ahead

FX:USDHUF   None
65 0 3
Daily:
- Ichimoku setup is long term bullish
- Heiken Ashi candles are rather neutral. two reds, two greens, two dojis, one green -> consolidation pattern
- haDelta is still bullish biased as long as it's above zero line, Oscillator is bullish too, but MACD is still in bearish cross
- Price should break above range top within next few days to be able to continue bullish trend , otherwise a break below Tenkan Sen and the steeper trendline would bring a correction to one of the lower support levels
- Lower suppourts are: Kijun Sen and horizontal support ard             268,50-269 and Senkou B at 261

4 Hrs:
- The picture shows a top consolidation before the next major move happens. It is a tightenning triangle, where we have three lower highs and two higher lows so far.
- Ichimoku picture is neutral, Tenkan is below Kijun, but Price is above both of them and above the Kumo. Kumo is thin and flat. Chikou Span is swinging around Price candles
- DMI is neutral/bearish ( ADX is low, so not a strong signal right now)
- Last two Heiken Ashi candles and haDelta shows bearih bias, but for a real counter trend to start and bearish momentum to accelerate, Price should break below 272,70 and later below 271. That would be a valid Kumo breakout confirmed with a Chikou Span bearish cross below the Kumo too.

Given the macro picture in Hungary (with main focus on positive C/A), the still persisting risk appetite for all non EUR denominated European bonds, and the increasing chance for a general USD correction, somehow I give higher chance for a break on the lower side of the triangle and a correction to come in USDHUF             .
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