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Euro/Hungarian Forint

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EURHUF trade ideas

EURHUF - strong Hun eco data + carry effectFundamentals - Hun core inflation above MNB target -> rate increase probably in March - wage growth steadily above 10% - GDP growth above expectation, 5% yoy The eco picture resembles scenario the Czech case from 2017 where the central bank started raising rates (wage pressure, inflation, housing prices) and the korona strengthened 6-7%. Technical - EURHUF short trend - 318 resistance tested, move above rejected -> next support weekly 200 DMA @ 313 Trade plan - EURHUF short opened, carry in favor - Be patient, next rate decision 26th Feb
Short
by RobertSoos
EURHUF 9 RRR long on dailyTrading Methodology: 1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend. 2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point. 3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line . 4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line. This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
Long
by fiboracle
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. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
The EURHUF exchange rate is 6.5% ahead...That Hungarian forint weakens. According to the technical picture, the exchange rate consists of the last two major D1 fractal points. If you cross this shaft, a larger space will open for further reinforcement. Strength can be created in a dual ascending wave structure. The target price for the first rising structure is 332HUF. Then correction follows. Then the second rising wave structure can develop, the target price reaches the 342HUF level. The current level is 6.5% stronger than the forint.
Long
by meszaros
EUR/HUF 1H Chart: Previous forecast at workThe previous forecast worked, however, the EUR/HUF exchange rate has not reached the Fibonacci 50.00% retracement at 320.26. Given that the currency pair is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the pair targets the lower boundary of a short-term descending channel located circa 319.90/320.00. Technical indicators for the short run also demonstrate that there is still some downside potential in the market. If given channel holds, a reverse north will occur and the pair will target the upper channel line located in the 321.00/321.50 range.
by UnknownUnicorn890690
EUR/HUF 1H Chart: Slight downside potentialThe Hungarian Forint has been appreciating against the Euro after the currency pair reversed from the upper boundary of a medium-term descending channel at 328.40. This movement has been bounded in a short-term ascending channel. Given that technical indicators still remain bearish in the short run, it is likely that a breakout from the junior channel occurs during the following days. A possible target is the Fibonacci 50.00% retracement at 320.21. This decline, however, should be short-lived, as the pair is located near the oversold territory. By the large, it is expected that the exchange rate continues its decline until the bottom of the senior-channel line is reached in the 315.00/317.00 area.
by UnknownUnicorn890690
EUR/HUF 1H Chart: Targets at 320.30The Euro has been depreciating against the Hungarian Forint gradually after the pair reversed from the upper boundary of a medium-term channel at 328.50. By the time of this analysis, the pair had breached the support level formed by a combination of the 55– an 100-hour SMAs at 324.72. The most common scenario for such case would be a surge downwards to the support cluster formed by a combination of the Fibonacci 50.00% retracement and the weekly S2 located circa 320.30. Also, an important level to look out for is the Fibonacci 38.20% retracement at 322.67.
by UnknownUnicorn890690
Buy at support- Ichimoku setup is bullish - price reached Kijun and spot Kumo support - Chikou Span (lagging line) is also at past Kumo support - HA candle body shrinks, indicators may give an early reversal signal soon - CPI to day at 3,4 % (mkt exp. 3,3 %), but core CPI down to 2,2 % -> NBH is very unlikely to change its extra dovish rethorics any time soon - European Parlament votes today about triggering Article 7 (strictest sanctions in the EU) against Hungary. In case 2/3 of 751 MPs vote yes, Hungary would lose a lot of funding in coming years. We added to our longs today. Watch price action very closely now, use more leverage in case of a clean buy signal.
Long
by Kumowizard