USDHUF - How to play the dollar long ?
Updated
One vehicle how you can short or long the dollar is the USDHUF.
The USDHUF mirrors the DXY moves pretty well.
Though watching the FIB retracement we are at no man's land : the Fibonacci 61,8% is still 10 HUF away:
we have important levels at 354.738, 352.993, and 351.248.
I don't think price will break these levels at the first try. If we can bounce from here price will tag the 50 EMA and 200 EMA at 378-380.
The USDHUF mirrors the DXY moves pretty well.
Though watching the FIB retracement we are at no man's land : the Fibonacci 61,8% is still 10 HUF away:
we have important levels at 354.738, 352.993, and 351.248.
I don't think price will break these levels at the first try. If we can bounce from here price will tag the 50 EMA and 200 EMA at 378-380.
Trade closed: target reached
50% position closed:Note
For the rest of the position stop goes to break even.We cannot lose from this point.
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