The USDHUF pair had a bearish break-out on our last analysis (October 13 2023, see chart below) and after hitting our 345.700 Sell Target, it rebounded:
The rebound formed a Channel Up, which again failed and a new downtrend has been confirmed after the price broke below the 1D MA50 (blue turned-line) again. Once the 1D MA200 (orange trend-line) breaks as...
There is a possible trend reversal for USDHUF as it signals a bearish divergence on RSI. On chart it has printed a double top pattern. Trade is valid as it has broken the neckline to the downside
Political reasons are manipulating the USDHUF currency pair until there is a final agreement between Hungary and the European Union between support for Ukraine and while Hungary is delaying the approval of Sweden's accession to NATO. As soon as both political issues are resolved, and they certainly will be in the near future, the Hungarian forint will gain...
Hello all,
Today, we are posting my observation of the recent crab structure USDHUF has displayed, and is now giving a great regression into it's extension levels. Depicted are the 1.13, 1.27, 1,41 and 1.618 extension levels.
As the chart suggests, we should see a nice move into the 1.13, and then into (B). These moves are most typically strongly considered...
Fundamentals :
It seems that Hungary's central bank rate cutes will come faster than the US central bank rate cuts. This could strengthen the US Dollar's currency relative to the Hungarian Forint's currency.
Technicals :
divergence
bottom reversal pattern
ichi cloud break
Weekly morning stars
Monthly uptrend and bullish chikou
Recent news:
"Hungary's...
The trend is short on the Weekly and the Daily, but this short trend may prove as the correction of the last big wave up on the Weekly.
Below the closer Daily support, the price may target the next Daily support, then the Weekly.
Above the Daily IMP, the Daily short trend breaks with waves up, so buyers may push the price towards the next Weekly and Daily...
The pair will at first climb higher, to complete the potential right shoulder. We are having good resistance near 351.50 GANN. The stochastic is low and shows potential for the upmove at first.
strategy 1. BUY @ 345.00 area and take profit near 351.00. (place you desired SL)
strategy 2. SELL @ 351.00 area and take profit @ 335.00. 9place your desired SL)
Hi traders
This pair is primed for a move up accordingly. Having hit two 61.8 Fib support areas. The first comes from a 3 month impulsive move. The second comes from a weekly impulse. If timed correctly this move could head much higher. To the 3 month fib Breakeven target.
USDHUF is bearish on the 1D technical outlook (RSI = 37.886, MACD = -2.380, ADX = 36.722) as it has been on the decline since October 4th. This selling sequence has stopped exactly at the bottom of the Channel Up pattern, with the 1D MA200 holding precisely for five straight days. As long as it holds, it is a buy signal and we are targeting the R1 level (TP =...
Reasons to go long USDHUF:
38%/61.8% pb confluence
a-b-c equal legs completion
cup-w-handle pattern
Weekly BBT
Monthly and Quarterly trend up
100ema+200ema+cloud support confluence
Trade Plan:
Wait for bullish candle pattern in the BUY ZONE, then enter.
We can observe that this pair has created a lower structure with a break of the 365 level. With that comes the dollar retracing since yesterday... If we see weak datas coming from the dolar today, we might see a short term bearish move on this pair. To monitor...
The USDHUF pair is trading within a Channel Up pattern, currently extending the bearish leg after a Higher Low on Resistance 1 (375.600). The previous bearish leg hit the 1D MA50 (blue trend-line) and then rebounded, so we are expecting a similar development. As long as the pair is closing the 1D candles above the 1D MA50, we will be bullish, targeting Resistance...
This pair seems to be on a long-term uptrend. Market sentiments indicates that there are less buyers than sellers which could support my hypothesis that this pair will be a long-term buy.
Inflation induced rate differentials over nominal exchange rates drove a steady (almost uniform) overvaluation of the Central European Currencies vs. the USD.
With present premiums around +10% a swift, near term correction is ever more likely.
LONG USDHUF, USDPLN, USDRON, USDCZK
