EURHUF LongDOW Theory applied on EURHUF pair for trend analysis. Strategy is to take long and wait for new high high formation
EURHUF trade ideas
Controversial signs on the daily chart.Soon, I have to buy some euro, and I have decided to make some analysis on it.
Hope it will be helpful to you.
As the title said, we have some contentious signs. The price is stuck between the S1 and P-Pivot points. The MACD indicator shows weakening bearish momentum, but the RSI indicates that we will have continuation downwards.
At this point it could be anything, so I marked the 2 most likely scenarios on the chart.
The only thing we can do is wait and pay close attention!
im waiting for a retest to complete im waiting for bullish reversal patterns plus candle stick pattern b4 I buy, if u're applying fibonacci retracement u should c that the market is at 61.8% zone right now.
EUR-HUF hit historic over sold on weekly rsiHistoric over sold on weekly only one time it did not increase 3-7% after it hit these levels of over sold. It broke a 3 touch point decending resistance. On the gbphuf and usdhuf it made a higher high. And huf have 5% inflation with historically having very bad inflation problems.
Trampoline to the sky?!🪂Hurray, my friends🔥
There is one more interesting formation for today.
Ascending Triangle on EUR/HUF currency pair.
There was a strong and confident bullish sentiment before.
According to Elliott Waves theory all the waves are done and now the price is heading to the breakout.
So follow the chart and look for the breakout carefully.
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And always remember: "we don't predict, we react".
Smart Money - POI Confirmation Entry (2 Step Method)See chart for explanation. Add confluences such as liquidity pools below OB or an OB that clearly took liquidity.
EURHUF triangle breakout in August?368.5 can become a short squeeze with violent burst towards the upside.
EURHUF weekly chart I see both technically and fundamentally and increasing chance of EUR breaking to the upside of this ascending triangle.
Fundamentals
record high covid contamination (regionally and historically),
Orban's Fidesz leaves EPP,
increasing inflation
Do it🔥Wolves🔥
Here is the one more trade for you!
There is an ascending triangle on EURHUF currency pair.
There was a slight bearish trend on bigger frame and now the price is in consolidation.
According to Elliott Waves theory all the waves are done and the price is heading to breakout.
So follow the chart and look for the breakout carefully.
If you enjoy my FREE Technical Analysis , support the idea with a big LIKE👍 and don't forget to SUBSCRIBE my channel, you won't miss anything!
Feel free to leave comments✉️
And always remember: "we don't predict, we react".
EURHUF is expected to rise. EURHUF is expected to rise. The analysis shows that the amplitude of the correction wave sequences is the same (white square). It can also be said that the amplitude of the ascending wave sequences formed after the corrections is doubled. Therefore, I assume that the current system of rules can remain. The forint has embarked on a significantly weakening path. If this statement is correct, the next EURHUF target price is 400HUF
Hungary's playing fire with the European UnionThe pair will fail to break out from an uptrend resistance line, sending the pair lower towards its previous low. Hungary is playing fire with the European Union after the country along with Poland vetoed the EU budget of $2.14 trillion over the next seven (7) years. This was following the EU’s stance that the budget allocation can be altered for countries that it found were violating the EU rule of law. This move could delay the much-needed funds from the block towards the EU member states that are hardly hit by the pandemic. On their most recent reports, some EU member states already showed some weakness amidst the second wave of the pandemic. France’s consumer price index (CPI) MoM and YoY reports both posted zero percents growth. Meanwhile, Italy recorded 0.2% and -0.3%, respectively, on the same reports, showing no signs of improvement from their prior report. The delay in the budget will negatively impact the upcoming reports.
EUR/HUFNot taking this trade due to the fact, my strategy enters at the break of the 5 min 50 EMA after deceleration on the 4hr, price action on the 1hr and I would be getting in almost.50% late therefore not being able to protect my SL.
The recover of the European Union with the Visegrad GroupThe pair failed to break out from an uptrend channel resistance line, sending the pair lower. Eastern Europe is leading the recover of the European Union with the Visegrad Group at the forefront. Hungary managed to lessen the country’s unemployment rate from 4.6% in August to 4.4% in September. The recent report represents the second consecutive decline in the country’s unemployment report this year. Aside from this, the $272.00 million increase in the country’s trade balance report will further add strength to the Hungarian forint. On the other hand, western Europe led by Germany and France were mixed in their third-quarter GDP results last week. Germany’s Q3 result was an expansion of 8.2%, beating analysts’ estimates of 7.3% growth. Despite this, the growth in Q3 was lower than the previous quarter’s -9.8%. The opposite is true for France which grew by 18.2% beating both estimates and the previous record of 15.4% and -13.7%, respectively.
