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.
EURHUF trade ideas
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.
eurhufOn the weekly and daily we can see a W formation ( in yellow) and on the lower timeframe we can see a slow down in price action
so I am looking for a sell (red line)
Short EUR/HUFEur/Huf showing strong resistant at 360.748 looking for a short term short possible swing trade let me know your thoughts
EURHUF short move 🦐The market after moving up couldnt make new highs and recently broke the minor channel after a double top.
Price is now breaking the 4h structure and at the retest of it we can look for a nice short order according with our strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
The Hungarian momentarily lost its footing against the euroThe Hungarian momentarily lost its footing against the euro once the month kicked off. But as of today, it manages to ease thanks to stimulus hopes and the performance of the stock market. The global sentiment improved which helped the Hungarian forint and major stock indices. And all of these are because investors are looking forward to further stimulus measures in the United States and the positive results produced by the eurozone. Moreover, Hungarian Prime Minister Viktor Orban confidently said that the country’s economy will benefit from an upcoming investment boom by next year. This will be the evident result of the government’s programs to help domestic firms. Through government aid, hundreds of companies have undertaken to invest in machinery and factories that should start production or manufacturing within a year. However, Orban warned the citizens to stay cautious to prevent a second wave of coronavirus infections.
EURHUF to go further downI wasnt that sure at the start of this move but i kept my eye on it and i think its time.
EUR BullEUR is looking stronger and stronger, not much will stop it including the HUF, big movements expected.
EUR_ Lower Low of Correction HUF pulled and over sold waiting for a buy confirmation for the next leg to the 4H highs structure.
EURHUF - Bounce from here? Good chanceHi Traders!
EURHUF is moving in a strong long channel. The price is now at an important demand area and a psychological level around 329-330. Nevertheless it seems to me that we have the the similar setup as at the previous low in the channel (bullish hidden and regular rsi divergences) .Nevertheless both fundamentals and technicals aresupporting longs. It can also be a double top, but I think it will not be a reversal pattern now.
Regards,
Adam
EUR/HUF Monthly Forecast (July)First wave of the Elliot has reached an end on a key level, correction is expected. Fibonacci 0.382 level is overlap with an another key level.
I expect the third wave (the end of the correction) there. The Fibonacci extension 61.8's line overlap with an another strong level.Likely we can estimate the third wave's strength.
The Central Bank reduced the interest rate, and planning to cut another more 0.15% in July.This means,the fundamental backround is given, the HUF (Hungarian Forint) will weaken in the next few weeks/months.
