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U.S. Dollar / Hungarian Forint

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USDHUF trade ideas

Reduce USD shorts, not just against HUF, but ag. EM in general!- Ichimoku is bearish, but - Heikin-Ashi quantification tool haDelta+ shows some early positive divergence: higher low vs lower low in price - EWO is bearish, but started to tick up in last two days, it may also show positive divergence compared to price. - Possible bullish wedge isdeveloping - Price is also very far below the weekly Kijun Sen, which is at 274 now. From time to time market needs consolidation or a bounce towards this longer term equilibrium level. I think the USD/EM and USD/CEE trades are getting close to their local bottom. Regarding USDHUF you also have to keep in mind that holding this position has a negative cost carry of annual 1,25 %. National Bank of Hungary is also quite dovish, and wants to see a weaker HUF (against EUR mainly). Until the end of 2017 I can immagine a retest to 265-271 zone. This post is NOT a call for a long USDHUF trade, as for that chart doesn't qualify. The idea is to close/reduce USDHUF shorts, and probably USD/EM shorts in general.
Long
by Kumowizard
USDHUF update...USDHUF update. The strategy remains unchanged. In our opinion, time has come to a more stable rise. If the idea is correct, the primary purpose of the current movement is 269.36 HUF. There is a correction level there, so we do not expect any further increase from that level. The correction level again shows a stronger re-adjustment up to $ 254.77. Then, from this rearrangement, the exchange rate can build a wave movement, which can be based on a stronger dollar appreciation. We will return to this later.
Long
by meszaros
4
USDHUF has reached its bottom.USDHUF has reached its bottom. In our opinion, the 256 Huf correction axis is expected to slow. It can take up to several days. After that, you can reach the second correction level at 269.24 with a bit more momentum. There is still low traffic at this location and a slight increase, a bigger back correction breaks the impetius. After that, we are expecting a much larger increase in trading, which may raise the exchange rate to our target at 283,78 Huf. Here we would close our USDHUF long position.
Long
by meszaros
2
USDHUF - Hungarian jobI think this is the currency pair I traded most in my life. Before the internet platforms USDHUF , EURHUF and EURUSD was the only pairs with good spread for us... USDHUF arrived to an important resistance zone today. I think the USD bottomed today. So I'm going to play this in my home currency also. I'm using the RSI 13 here. In the last 2 years when it left the oversold territory it moved very fast to the upper direction. Once it turns it's moving aggressively to the other direction. You can find this pair between the exotic currency pairs.
Long
by chartwatchers
7
USDHUF - D - LONG - TDIThanks to @chartwatchers I discovered this pair and found out that it was a pretty interesting setup for my strategy. IMO, Arpi is one of the best trader around here and even he teached me lots of knowledge through his ideas. So, this pair is breaking up to the upside on 4H. So we should have a nice follow up on 4H, then when daily meet the upper band we will get a pullback and the real trade will start after that. A very long trade, but could be a very good one, with low SL.
Long
by Bastosai