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.
