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Euro/Hungarian Forint

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EURHUF trade ideas

Short-Term Trade on The EURO/HUNGARIAN FORINTIn this short-term scenario, the selling trend is quite clear. The price broke the support line that has kept it in the last 10 days. With this bullish movement we can clonclude that the price will start a correction to then go long and touch the interest red zone. Like as i mentioned before it is a short-term trade and the bias remains bearish. This is not a pair I usualy trade because of the highs spreads. This market analysis is just a investment idea, the same shouldn't be taken as a financial counseling without risk envolved. CFD´s are very complex financial products that can result on the loss of most capital invested
Long
by UnknownUnicorn1383471
EURHUF similarly performs corrective movements ...EURHUF similarly performs corrective movements for other forint pairs. The size of the correction is the size of the last weakening wave. In this case, the exchange rate of the forint may rise to 308.40 against the euro. Then we expect the next stage of the wave of amplification that we have started. In the first half, half a wave, for which purpose is 314.26 level, but in the distant future it is highly likely to form a whole wave, for which purpose it can be 319.25 HUF.
Short
by meszaros
Take profit on longs, buy lower again- Ichimoku is bullish, but price got a bit far above equilibrium level (distance from Kijun Sen) - Heikin-Ashi candle is bullish, but watch out for haDelta+ and haOscillator: both cross down and both shows negative momentum divergence - Price is also at trendline resistance, and weekly Kumo resistance. If you check, weekly haOscillator, also looks topish. - Bullish EWO reaches extreme high. Take profit on longs now, a local top may form. If market retraces to Kijun, look for a buy signals again (should be around 308). Alternatively you can also look at USDHUF.
Short
by Kumowizard
6
NBH verbal interventionThey started to worry about recent HUF strength, so they launched a verbal intervention today (without mentionning FX target NBH announced they are ready to deploy more non-conventional tools in case they see a threat to their inflation target -> Translation: if EURHUF goes lower, inflation target is in danger + some problem on reserves end of year valuation if it goes below 300-302). Yields down, and EURHUF slightly up from 302 low. Will it reverse? Not sure, but few technical signals suggest drop may come to an end. - Ichimoku is bearish, bearish key supports are at 304 and 306. - Heikin-Ashi is less bearish: candle today has long wicks, and haOscillator crossed up. -> some indecision - Possible bullish wedge being formed - MACD is bearish. EWO is bearish too, here we have to watch if starts to show bullish divergence. Strategy: My original target was 295-300 range. But now I see it's better start reducing HUF exposure. Cut all shorts above 304 and/or open initial swing long positions. Go long above 306.
Long
by Kumowizard
Too much divergence- Daily candles have higher highs, but last three candles had relevant lower wicks too. - The small candle bodies are also reflected in both haDelta+ and haOscillator, which thus developed quite some negative divergence - EWO and MACD histogram alsotick lower -> early negative divergences - 4H divergence is seen in both EWO and haOscillator While the trend and setup is still bullish, should it break below 4H Kijun (313,26), a sudden reversal and dip to 311-312 zone would be very possible. I suggest to get out of all longs and/or sell covered Calls.
Short
by Kumowizard
3