USDHUF Sell when the 1D MA200 breaks.
The USDHUF pair had a bearish break-out on our last analysis (October 13 2023, see chart below) and after hitting our 345.700 Sell Target, it rebounded:
The rebound formed a Channel Up, which again failed and a new downtrend has been confirmed after the price broke below the 1D MA50 (blue turned-line) again. Once the 1D MA200 (orange trend-line) breaks as well, we will have a bearish break-out confirmation, similar to October - November 2023.
Our Target is Support 2 at 342.1565.
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The rebound formed a Channel Up, which again failed and a new downtrend has been confirmed after the price broke below the 1D MA50 (blue turned-line) again. Once the 1D MA200 (orange trend-line) breaks as well, we will have a bearish break-out confirmation, similar to October - November 2023.
Our Target is Support 2 at 342.1565.
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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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