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Euro/Hungarian Forint

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EURHUF trade ideas

#EURHUF is likely to see further upside If you like to trade exotics or Eastern EU currencies like CZK, PLN, HUF I would like to highlight the possibility of future weekness of these currencies. At the moment HUF is strengthening while the other two suffer from selling pressure. I think this is only periodical and due to only the higher interest rate of HUF but this is barely sustainable, central bank has to lower rates and it is doing it right now. This idea can be a longer swing play. Please be aware of such currencies, these are not suited to daytrade or scalp.
Long
by Szuperpotyka
Analysis of EUR/HUF Trade with Bat Harmonic PatternI've been analyzing the EUR/HUF currency pair, and I've identified a potential trading opportunity based on a Bat Harmonic Pattern formed in the 4-hour candlestick chart. After careful observation, my confirmation for this setup is the third 4-hour candle following the completion of the Bat pattern. For this trade, my entry point will be within the range of 387.319 to 386.836. I believe this is a favorable area where the market is likely to reverse in my favor. However, I am aware of the risks involved in trading, and as such, I have placed a stop loss at 389.867, just above the previous high on July 7th. This is a crucial risk management step to limit potential losses if the trade does not go as anticipated. Regarding take profit levels, I have identified two targets for this trade: My first take profit zone is between 378.00 and 379.00. I've noticed that the market tends to react when it hits the 377.611 support zone, so I aim to bag some profit in this range. My second take profit zone is estimated to be between 374.000 and 371.535. This is a deeper target for potential profit if the market continues its downward move. I understand that trading in the financial markets carries inherent risks, and no strategy is foolproof. Past performance does not guarantee future results, so I am cautious and aware of the need to use appropriate risk management techniques. The currency markets can be highly volatile and influenced by various economic and geopolitical factors. In conclusion, I see a potential trading opportunity in EUR/HUF based on the Bat Harmonic Pattern. However, I'm well aware that trading involves uncertainties, and I will continue to analyze and make well-informed decisions. As a responsible trader, I urge everyone to do their own analysis, exercise caution, and implement effective risk management strategies before entering any trade. Disclaimer: The following analysis is for informational purposes only and should not be considered financial advice. Trading involves risks, and individuals should conduct their own analysis and risk assessment before making any trading decisions.
Short
by nirajanghimirey
1
EUR/HUF time to open longs.The Hungarian Forint has been on quite a run, but lately failing to make significant new lower lows on the EURHUF chart, signalling the bears are running out of steam. It’s also trading near major support zone. On the fundamental side, the national bank of Hungary are likely to start cutting interest rates slowly but steadily. I’m expecting the Forint to start depreciating and my target is the psychological level of 400 to be tested in 1-2 months time.
Long
by elblanco0
5
EUR/HUF Some Wild Swings. Not for the Faint of HeartDid y'all see that yesterday. The EUR/HUF has a massive move lower for over 570 pips and I was able to catch that. I exited out of my position because I have been in the pair for a while now and think it is going to push higher. It is pushing higher now, so for now I am correct. But I think there might be a larger push higher. If this pair can hit 380 or higher, I'll likely get back in and start building up to a standard lot. The reason, the Technicals (monthly head and shoulders with price almost completing the head), Fundamentals (over 25% inflation, 13% interest rates, Hawkish NBH and the possibility of increasing rates), and sentiment (news, articles, thoughts, analysts are pointing to a stronger HUF) are all inline and providing support for each other. This strengthens the probability for price to move lower. This heightens my conviction in building larger positions on this pair as this might be an opportunity that I don't want to miss. Of course I am going to build my position in blocks and not just place one max position. I am thinking though, that the price might push higher because of the coming up ECB Rate Hike. But I am also skeptical that price will hit 380 (so, I might place an entry at 380.50). What would be good is to build a position above the 380, build a max position to have my average position above the 380, see price push to around 375 and place a stop at 380 (one can only dream). So now it's the waiting to see what price wants to do.
Short
by DollarSaenz
EUR/HUF A Hidden GemThe EUR/HUF is meeting all of my expectations on the Technicals, Fundamentals, and Sentiment. On the technicals, price is showing a head and shoulders patterns and price looks like it might be able to complete the head portion this year. The reason being is, on the fundamental side, the ECB is struggling to fight inflation, the National Hungarian Bank sticking to maintain the highest interest rates in the EU (at 13%), the NHB is not looking to loosen monetary policy, even if the Hungarian Governments wants them to, and inflation is extremely high at over 25%. Sentiment is very strong for the HUF, with a lot of articles in favor of the HUF. Also the EUR/HUF is a great carry trade, and with the possibility of the NBH possibly raising rates further, could push price down to my price target of 345.
Short
by DollarSaenz
EUR/HUF - inverse Head&Shoulders - Long - 1-3wA potential inverse head and shoulders pattern on the chart (not the prettiest, but whatever) and on the RSI as a possible sign of a reversal. Let's see if price can rise above the neckline around 415 HUF, if so: Buy in: above ~415 HUF TP: 433 HUF Time interval ~1-3weeks Fundamental background: The European Commission has concluded that Budapest has not sufficiently fulfilled its reform promises in the fight against corruption, and will recommend to member states to freeze €7.5 billion from three cohesion programs at its meeting next Wednesday, according to the conservative daily Frankfurter Allgemeine Zeitung. ( 23.11.2022-13:14) If the Council adopts the Commission's proposals, it would mean 65 % of the funds for three Hungarian operational programs would be withdrawn from Hungary. This would mean blocking €7.5 billion, or around 3,000 billion HUF, which is around the third of the cohesion funding for the budget period up to 2027. HUF weakened against the euro on the news. source: www.faz.net
Long
by Skill4fun
2
EURHUF // bumpy road back to the primary trendBasically, this market is a no trade for a long time, I guess... definitely between the long and short trigger zones. A lot of stop before the impulse of the primary may begin. I see no opportunity right now, I just publish it because some of you asked for it. Trade safe! ⚪️⚫️ -------------------------------------------------------------------------------- ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter. WE JUST REACT! Remember that trading is a business. SIZE your TRADES according to your risk aversion! ----------------------------------------------------------
by TheMarketFlow
EURHUF // nice test in the correction, what's next?Market corrected all the way down to the daily support zone, and may come back into the countertrend of the countertrend , then long trend may resume at the long trigger zone. Long term shorts are only below the short trigger level. Trade safe! ⚪️⚫️ -------------------------------------------------------------------------------- ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter. WE JUST REACT! Remember that trading is a business. SIZE your TRADES according to your risk aversion! ----------------------------------------------------------
by TheMarketFlow
EURHUF // important levelsEURHUF made a sharp move in the correction zone all the way down to fibo 61.8%. From here, taking back the lower green level means that the correction of the correction starts. The question is what price draws us next? We can have another wave down, or above the long trigger zone, the uptrend may resume. Fundamentals don't bother me, price tells everything, and that's what I see on the chart. Thanks for reading my analysis!🤘🏽 Trade safe! ⚪️⚫️ -------------------------------------------------------------------------------- ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter. WE JUST REACT! Remember that trading is a business. SIZE your TRADES according to your risk aversion! ----------------------------------------------------------
by TheMarketFlow
EURHUF // not all markets are to tradeHi✋🏽 A sharp move into the correction area means that some traders must take profits. A good entry has been up in the target zone when H4 closed down the previous start of the impulse wave up (see related idea). Now it's time to wait what waves emerge from the market. Sometimes the best trading is staying out. What do you think??? Trade safe! ⚪️⚫️ -------------------------------------------------------------------------------- ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter. I JUST REACT! Thanks for reading my analysis!🤘🏽 Remember that trading is a business. SIZE your TRADES according to your risk aversion! ----------------------------------------------------------
by TheMarketFlow
EURHUF // correction has started on H4Hi✋🏽 Price has reached the daily target fibo 238.2 after an extreme hike, and immediately started to show signs on H4 that the correction has started. Target zone is marked by pink. There may nice day trading opportunities in this countertrend, but the best ones come after the break of the countertrend that's about to be built. What do you think??? Trade safe! ⚪️⚫️ -------------------------------------------------------------------------------- ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter. I JUST REACT! Thanks for reading my analysis!🤘🏽 Remember that trading is a business. SIZE your TRADES according to your risk aversion! ----------------------------------------------------------
Short
by TheMarketFlow
1
EURHUF - Good Example of using Pivot PointsI've been trading for over 7 years and I've come to love pivot points! I see pivot points being used constantly and i just wanted to show you EURHUF on a 15 minute chart as an example. When the US market opened they made big moves around yesterday's price level until it hit the first support level. I use pivots to scalp the market so i can compound my longs and shorts to make up for any losses that may have happened! Pivots are usually only used in day or swing trading on the 1 minute, 5 min and 15 min charts. Zoom out to multiple time frames to check the trend and then take orders only in the direction of the trend to have some confluence going on. Don't just take trades blindly without fully being aware of what's going on. Make sure you read all and any economic news that is out there!! NOTE: Pivots don't always work but for the most part you can see them being used here in real time. (This is just a guide to show you how pivots are used, this is not a trading signal) I don't mind sharing because i want all of us 5% to make some so the big can loose some :)
Education
by JasonLeighton