USDHUF: Buy and sell signals depending on the 1D MA200.

USDHUF is bearish on the 1D technical outlook (RSI = 37.886, MACD = -2.380, ADX = 36.722) as it has been on the decline since October 4th. This selling sequence has stopped exactly at the bottom of the Channel Up pattern, with the 1D MA200 holding precisely for five straight days. As long as it holds, it is a buy signal and we are targeting the R1 level (TP = 375.00). If it breaks and closes the 1D candle under it, sell and target the S2 level (TP = 335.60).

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