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.
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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-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...
The pair is trading on a long term 1W Channel Down (RSI = 35.120, MACD = -1.016, Highs/Lows = -3.0639, B/BP = -4.7280). A recurring sequence inside this pattern indicates that the current bearish leg still has some downside left before making a Lower Low. Our TP is 312.700.
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- Hun core inflation above MNB target -> rate increase probably in March
- wage growth steadily above 10%
- GDP growth above expectation, 5% yoy
The eco picture resembles scenario the Czech case from 2017 where the central bank started raising rates (wage pressure, inflation, housing prices) and the korona strengthened 6-7%.