This pair has been trading inside a very long term Channel Down on 1W (RSI = 37.951, MACD = -0.084, Highs/Lows = -2.8661, B/BP = -5.8570) and has just touched the inner supporting trend line. As indicated by the July - August 2018 fractal, this trend line can provide the necessary support for a bounce towards the inner resisting trend line (321 - 322). This is an ...
EURHUF is trading within a 1D Channel Down (STOCH = 44.456, MACD = -0.045) and 325.00 is its technical Lower High. However we cannot ignore the possibility of a less aggressive Channel Down that may be developed, so the shorts target should be placed accordingly. TP = 320.250.
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based ...
Let's see if this idea works out.
EURHUF is currently balancing below the short-term downside resistance line, but if the pair breaks that line, we could get some increased buying activity, where the pair may go to the 13th of November high, near the 323.55 barrier.
Don't forget your SL
The previous forecast worked, however, the EUR/HUF exchange rate has not reached the Fibonacci 50.00% retracement at 320.26.
Given that the currency pair is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the pair targets the lower boundary of a short-term descending channel located circa 319.90/320.00. Technical indicators for the short ...
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 ...
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).