This is eurhuf update. Recently when we suppose to post this idea. the price was nearly that daily cp of supply but that is now declined and rejected.
Eurhuf just over bought and confirming the h4 supply level nested in the daily and weekly supply area. So in shortly we may see a good drop.
Welcome to everyone!
Here is the EurHuf analysis.
we see CP 1 caused the break of previous demand weak area which is in shortly will be broken. Prices just reacted that strong CP of Supply. So short bias right now.
Monthly demand in control. To go long
Weekly downtrend broken, new candle close away from the trend, created a new demand zone. To go long
Daily uptrend. Buy at retracement, target all time highest close.
Hello, Traders. EURHUF seems to be interesting as it is at a point whereby we might see one more down or a breakout. Look for any impulsive move, and get in after the price has formed a correction.
Happy trading, guys.
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As per LBLS Indicator and Volume the bull move is near the resistance price will fall back to .382 levels.
Target can be 319.848
Strength meters shows weak strength on the bull side and short strength meters are forming now.
-HUN eco data is continuously beating expectations, inflation above MNB expectation (3.8%) -> MNB reluctant to raise rates, still dovish -> no real interest on HUF
-Clear resistance at D1 61.8% Fib level
There is no European city that offers the lowest cost of living and a modern lifestyle in a beautiful environment with historical monuments as uniquely as Budapest. A weak Forint supports tourism, although maybe the less sustainable cheap-tourism, and with an all-time EURHUF-high of 331,78 in summer 2018 it may have reached a point for a retrace. Although...