If flat Tenkan and Kijun holds, then tgt 270Well done NBH! Well done! The whole world is about to tighten somehow, but they pushed effective front end rate even lower to -0,15 % yesterday. Still, intraday EURHUF dipped almost 1 % from highs. :-D (Sell the news).
But as we have FED on stage today, we should rather focus at USDHUF. The 1 year positive carry for long is around 1,75 % now! Immagine how it would act in case FED gives any minor boost to USD to retrace in general!
Technicals:
- Ichimoku is turning a bit neutral. Price is at/above flat Tenkan and Kijun, which leve means a short term supp/res for the cross.
- Heikin-Ashi gives some noise, but as EWO and haDelta+ still has the positive bias, I rather bought this pair at 256-257 with a 253 initial stop.
- If momentum arrives, USDHUF can quickly test the Kumo or even start a counter trend action to target 270 or the weekly Kijun Sen at 274. For larger swing long position we need more price action confirmation