HUF
USDHUF Ascending Channel Breakout in MOTION!After a long race uphill on USDHUF, finally price made its way to a negative interest of buy orders and decided to narrow lower and lower until breaking out of its well respected channel. Entry idea would be to wait for both the finish of the breakout impulse and wait patiently for price to retrace properly before entering short for optimal risk-reward.
USDHUF: Break-out or Pull back. How to trade.USDHUF is trading on a long term 1M Channel Up (RSI = 59.447, MACD = 6.440, ADX = 46.694, Highs/Lows = 6.8414) since 2019 Q4. Right now it is ahead of a key level the 1D Lower High trend line (dashed). A rejection gets us back to the Higher Low trend line of the 1M Channel Up, while a break out begins a new bullish sequence. Our TP is 311.000 if the break out happens.
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CHFHUF: Mid/ Long-term Bullish Targets.The pair is trading on a strong 1D bearish leg (RSI = 37.148, MACD = -1.594, Highs/Lows = -0.8378) that has rebounded on the pivotal 30.000 RSI level. Based on CHFHUF's past price action on that level, we are expecting a medium term rebound to 305.000. On the long term, assuming the Support from the previous Monthly High holds (as it has done since 2018), we are expecting 309.500.
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EURHUF: Strong long opportunity on the 1W Channel Up.The pair has been trading on a very strong and steady 1W Channel Up since April and has just hit the Higher Low supporting trend line (RSI = 53.917, MACD = 2.461, ADX = 44.042, Highs/Lows = 0.0000). This makes it an automatic buy opportunity for us, especially since the RSI on the 1D time frame nearly hit 30.000 and rebounded. Our Target Zone is 338.000 - 340.000.
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EURHUF: Sell opportunity on 1D.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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EURHUF: Opportunity to sell higher.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 ideal short entry for the next Lower Low of the Channel near 314.00. Attention is required as 315.00 is a long term monthly support so as we approach this level make sure you secure the largest portion of your profit.
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