Fundamentals -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 Technical -Channel break -Clear resistance at D1 61.8% Fib level
Pattern: 1W Channel Down. Signal: Bearish as the price is entering the Lower High zone. Target: TP(1) 317.650, TP(2) 312.000.
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...
EURHUF in downtrend since June 2018 Double top forming on the H4 Wait for price action to go short
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. ** If you like our free content follow our profile (www.tradingview.com) to get more...
Fundamentals - 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%. Technical - EURHUF...
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.
I want to hope this low timeframe bull channel will work correctly need some upward movement tight stop comments welcome
That Hungarian forint weakens. According to the technical picture, the exchange rate consists of the last two major D1 fractal points. If you cross this shaft, a larger space will open for further reinforcement. Strength can be created in a dual ascending wave structure. The target price for the first rising structure is 332HUF. Then correction follows. Then the...
Targets and stop loss mentioned in graph
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...
A sloppy, but valid h&s is in the making. Short target is a key level, which is also reinforced by the 200 EMA.
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...
It is time the forint regained its strength. Today's pinbar is a good entry point, the levels are clear.