EURHUF 1D MA50 buy entry.
The EURHUF pair has been trading within a Triangle pattern, which based on the highly symmtric structure of the 1D RSI, may break above its top (Higher Highs trend-line) and transition into a more aggressive Rising Wedge (diveging Higher Highs).
The last Higher Low was priced below the 1D MA50 (blue trend-line) and since the RSI's Channel Down shows we are on the level where the final Low will be priced, we expect a strong rebound next.
The previous Higher High was priced a little below the 1.236 Fibonacci extension. As a result, we set a 403.000 Target (on the diverging Higher Highs and marginally below the 1.236 Fib).
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The last Higher Low was priced below the 1D MA50 (blue trend-line) and since the RSI's Channel Down shows we are on the level where the final Low will be priced, we expect a strong rebound next.
The previous Higher High was priced a little below the 1.236 Fibonacci extension. As a result, we set a 403.000 Target (on the diverging Higher Highs and marginally below the 1.236 Fib).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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