The Euro has been depreciating against the Hungarian Forint gradually after the pair reversed from the upper boundary of a medium-term channel at 328.50. By the time of this analysis, the pair had breached the support level formed by a combination of the 55– an 100-hour SMAs at 324.72. The most common scenario for such case would be a surge downwards to the...
TP = 286.634 as CHFHUF extended the gains on the 1D Channel Up (RSI = 58.041, MACD = 1.231, B/BP 1.4290) to a 292.000 Higher High. After continuous Higher Lows (Highs/Lows = 0.0000), we expect a narrower Rising Wedge to approach a peak, so we are long again, TP = 295.175.
EURHUF has approached the 1D Resistance (331.469) and is already pulling back. We are taking our first short now, with the second waiting on the Resistance, if the opportunity is presented. TP = 322.973 and 320.064 in extension (with the previous profit secured).
USD/HUF reversed like in the textbooks (XABCD) till 161.8 Fib. The bullish trend still has rate differential support with Fed not being afraid to hike further despite Trump rhetoric. Next level is 295 previous high.
Two notable developments have taken place on the charts of the EUR/HUF since the last review. First, the medium term ascending channel pattern, which guided the surge of the Euro against the Hungarian Florin in June, has been broken. Namely, the support line of the pattern was passed on Tuesday. Secondly, the momentum for the passing of the support level was...
CHFHUF is on a 1D Channel Up (RSI = 57.732, MACD = 0.384, Highs/Lows = 1.4859, B/BP = 2.9840) and has just printed its Higher Low. Long taken, TP = 286.634 (previous Higher High).
HUF is an emerging currency, with no positive carry value -> risk-off sentiment = sell HUF The economy is export driven, weaker HUF does not hurt the government in the short run Monetary policy divergence got stronger Cons: - NBH can decide to verbally intervene in the HUF market especially because of EURHUF rate
The Euro continues to strengthen against the Hungarian Forint since hitting a medium-term channel at 317.00 early in June. This appreciation has been bounded in a more junior channel which has guided the pair out of the senior channel. At the time of this analysis, the Euro was testing the 327.00 mark – its highest level in several years. Technical indicators...
USDHUF is consolidating (4H RSI = 54.112, ADX = 17.781) on the Higher Low line of the 1D Channel Up (RSI = 63.148, Highs/Lows = 0.2450). We are going long, TP = 283.200.
Following a reversal from the senior channel on March 18, the common European currency initiated a new wave up against the Hungarian Forint. Despite breaching a five-month trend-line near 313.50 two weeks ago, the pair did not accelerate but has since remained near this line. Given that technical indicators are starting to converge with the price movement on the...
Head and Shoulders setting up on the Daily time frame.
Description in the chart. I see a good potential for USD to rise against Hungarian forint.
looking to buy at low of the correction but be careful as more down is possible. if no buy setup i will wait for breakout and flag before buying