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