USDHUFUSDHUF has created double top and has started potentional 5th wave. Target is 100% of fib extension and long-term potentional target, after break of strong support is at 161.8% of fib extension level.
USDHUF
USDHUF video top-down AnalysisHello everyone, here is the top-down analysis for USDHUF, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
USDHUF UPDATE and new opportunityHello everyone, here is the top-down analysis for USDHUF, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
The US dollar continuously falters against the Hungarian forintThe safe-haven appeal of the US dollar continuously falters against the Hungarian forint. And the recent news of a recently agreed upon stimulus package for the eurozone regions has sealed the fate of the USDHUF trading pair. Prices are widely projected to turn out very bearish as the greenback struggles to gain footing against the Hungarian forint. Bears are hoping to force prices to ranges last seen back in early March. However, looking at the fundamentals, it appears that the buck still has a huge chance to make a solid comeback against the forint. Just recently, it was reported that most experts in the region believe that the Hungarian National Bank will probably unleash another rate cut that would be detrimental to the forint’s strength but useful for the economy’s recovery. Reports say that Hungary might continue to reverse its course following a change in the internal team that oversees the country’s monetary policy.
USDHUF waiting for our trigger to sellon H4: USDHUF is sitting around resistance so we will be looking for objective sell setups on lower timeframes.
on H1: USDHUF formed a descending triangle in red and head and shoulders pattern so we are waiting for a momentum candle close below our lower red trendline which also acts as the head and shoulders neckline to sell this one.
USDHUF testing the structure 🦐The market after the down move has been retracing till the 0.786 fib level nad now testing the daily structure in blue.
If the price will manage to break and close below the structure, at the restest of it we can look for a nice short order according with our strategy with a 1st tp around 304.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Support & Resistance LevelsBefore you trade, or even before you state your bullish or bearish opinion on a currency pair, you should know the major resistance & support levels! Don't forget to look at the monthly or weekly chart...
USDHUF Bullish Runs for Exotics??Earlier last week RiosTrades entered in a Small Short Run for this pair and got out due to potential reversal. This week we look at the market opening ourselves to where price can go (either side, look for reasons as to why price may go the other way). This upcoming week I believe the USD has been doubted for long and will commence in rising, these exotics all share high correlation with each other and in my findings I tend to see a lot of Exotics looking to push to the upside. With proper risk and money management, we can enter this pair and get stopped out and enter short after the next exhaustion if we really wanted to, all about RISK + REWARD. Stay in the Game.
#Bearish #Shark #Harmonic #Pattern 240 chart240 chart.
A bearish shark pattern has completed on the Dollar/Forint.
S.l., T.P.s & Entry all sorted.
1) R/R = 2.23%
2) R/R = 3.56
USDHUF waiting for our trigger to sellUSDHUF is sitting around a strong supply zone in green so we will be looking for objective sell setups.
this one formed an objective trendline in red so we are waiting for a momentum candle close below its last swing for more confirmation.
we also have a regular bearish divergence adding more confluence to our sell setup.
USDHUF BULLISH BLACK SWANBullish Black Swan, historical price support on D1, divergence on RSI. Price can reach 61.8% fibo
USDHUF JUNE 1-5FOLLOWING LAST WEEKS DOWNTREND
WAITING FOR RECTANGLE TO BREAK OUT OF CONSOLIDATION
4 HR FULL BEARISH CLOSURE BELOW 310.887 CONSOLIDATION, ENTER SHORT
USDHUF head and shoulders#USDHEF $USDHEF head and shoulders looks to be in play, I expect a decent bounce at the .618 making a good entry for a short
UPDATE!! USD/HUF carry on his down trend 🦐The market after a false breakout tested twice the resistance structure in blue before moving down.
Now has just created another interesting zone (yellow area) and if the market will manage to break and close a 4h candle below that structure at the resets we can look for a short position according to Plankton signals.
Bear in mind that we are at the end of the week and also at the end of the monthly candle so we can expect some weird move in the market.
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Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
The Hungarian forint gets strongerThanks to the recent decision of the National Bank of Hungary to leave its rates unchanged, the Hungarian forint gets stronger. The currency is looking to redeem itself against the beloved US dollar, and the renewed risk-on appetite in the global market is also helping it with that. The US dollar to Hungarian forint exchange rate should reach its support by the first half of June. Bearish investors of the pair are looking to force the 50-day moving average lower and get closer to the 200-day moving average. Earlier this week, the Hungarian central bank opted to leave its rates unmoved for this month and wait for the initial effects of the previous rate cuts. The move came after the bond purchases of the central bank started earlier this month which helped push down the debt yields causing the forint to stabilize and strength. The decision is also in line with the expectations of the majority of analysts and economists from Hungary.
USDHUF two possible scenaioswe are waiting for a momentum candle close below our lower blue trendline to sell this one long-term.
meanwhile, our blue trendline acts as support, so we will be looking for objective buy setups on lower timeframes.
