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Targets and stop loss mentioned in graph
And you can always trust a super dovish Central Bank :-)
In case of a bullish flag breakout, EURHUF Will target 345-350 zone.
The Hungarian Forint has been appreciating against the Euro after the currency pair reversed from the upper boundary of a medium-term descending channel at 328.40. This movement has been bounded in a short-term ascending channel.
Given that technical indicators still remain bearish in the short run, it is likely that a breakout from the junior channel occurs ...
A sloppy, but valid h&s is in the making. Short target is a key level, which is also reinforced by the 200 EMA.
Hungarian interest rates were not changed by the national bank.
The exchange rate may rise due to migration news also.
Last week market sentiment was very optimistic -> however, trade war destruction goes on
Daily 61.8 Fib level was supported by two bullisih candles -> entry setup with 1:3 RR.
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 ...
- Ichimoku setup is bullish
- price reached Kijun and spot Kumo support
- Chikou Span (lagging line) is also at past Kumo support
- HA candle body shrinks, indicators may give an early reversal signal soon
- CPI to day at 3,4 % (mkt exp. 3,3 %), but core CPI down to 2,2 % -> NBH is very unlikely to change its extra dovish rethorics any time soon
- European ...
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).
It is time the forint regained its strength. Today's pinbar is a good entry point, the levels are clear.
Watch for confirmed bullish flag breakout! in that case measured target would be ard 345.
Heikin-Ashi shows bullish momentum pickup. haDelta+ crosses up above mid line, haOscillator is turning higher too.
We are adding to our already existing long positions.
Keep a close eye on the 322.25 zone, a break of it could open the path towards the low of the 8th of August at around 319.00 level. Further declines could lead to 316.80-316.40 support area. But once again, we will consider this scenario only if we get a break and a close below the 322.25 zone.
Certainly, the pair could continue traveling higher up ...
EURHUF Buy Idea @Weekly Demand Zone (320.110 - 316.846)
Buy Limit: 320.419
Stop Loss: 316.602
Take Profit: 327.017
Risk Management = 0.01/$100
Close partially the contract once it reaches 50% of profit, Move stop loss over the entry level
Close partially the contract once it reaches 80% of the profit
Even though the pair has already made a strong move lower from its peak at around 330.70, we can still try and catch that move towards the upwards moving trendline, drawn from the low of the 20th of April. Probably a good idea could be to try and wait for a small retracement back to the 21 EMA and then try to enter SHORT position, with a convenient ...