Despite fundamentally HUF is the weakest chain among EM ccys, technically we have interesting change now which we have to pay attention to!
Daily: DMI crossed bearish, MACD has had massive negative divergence for some time now, Tenkan/Kijun printed a bearish cross (weak sell signal as happened above the Kumo), the higher lows of the chanel (which is the same as...
Again, it was ok, to buy at 310-311, on the bottom of the range (flag). But as you can see on daily chart, price action is not so agressive recently, volatility decreased a bit. Indicators are mixed, really like a studycase of a sideaway mkt, so the odds are not good either, I do not see a good risk reward at current 313 level to bet in any directions. Long we...
My last recommendation on EURHUF was a short from 313,50 - 314,50 range top levels. After some initial spike above 315 (where I almost lost the position by the way on stop) finally it worked. However yesterday px action seen clearly on the daily chart proved that the range is still intact, means that the short had to be closed either on the profit tgt 309-310 or...
Long term I am still very bullish for EURHUF, but hey, look at this range which still persist! Who is on the top? For me it looks like policy makers do not want to see it a lot higher than 314-315. General election is due on 6th/April, so I would not be surprised if there have been some "silent intervention" behind the curtain. (btw as far as I know NBH ccy...
EURHUF is consolidating, though the consolidation range is very wide: 308,15 - 314. I have never ever done this kind of price pattern projection before, but this time I find it interesting, with some "if" to add.
Upside with "IF"s: If Daily Ichimoku setup still favours long (still good chance in all parameters), if the inner trendchannel bottom and key...
On 4 Hrs chart EURHUF has arrived to important support level, retesting the previus downtrend of the consolidation triangle.
It is a buy zone, with tgt 314 again. Use tight stops, as this time it is in the mid of the current wide trading range, and in case the uptrend and Kumo eventually fail to hold, it can quickly drop to 307,50, or even below. However hungarian...
Referring to my prev. chart:
NBH cut base rate by 15 bps yesterday. My expectation was for 10 bps only + some less dovish comments or some hints on the future monetary policy to be rather cautious.
However NBH surprised the mkt with not just cutting the rate, but keeping its extremely dovish stance. I clearly believe that NBH is either doesn't understand what...
First of all let me note this exoctic fx cross has become really volatile recently, and mkt quote is less liquid as well. Pls really take it into consideration when opening a trade in EURHUF, always check daily ATR for proper position sizing.
After jan-feb massive blow up move, EURHUF has started to consolidate in a wide range of 308 / 312, but also within a...
We expect more rate cut on the 24th. The range is clear, we are at the bottom of the recent channel. EURHUF usually respects that. We play the long with options as we do not want to pay financing. In case we got it wrong we sell the spot at 293,50 to hedge the cost & loss of the vertical option. Expiry: 2nd of October
