Daily: - Slow Stoch buy signal, MACD lines are converging - Yesterday we had a Heikine Ashi reversal candle with small body and long wicks. Today's HA candle is green. haDelta crossed back above SMA3 and breaching above zero line. - Chikou Span reached past Kumo and turnign up again - Short term supp/resistance is daily Tenkan Sen at 308,90 4 Hours: - Ichimoku...
I think EURHUF we have to consider as sell on tops for the close future, but as it has reached a key resistance zone, I suggest to take partially take profit on short positions / reduce HUF exposure. Weekly: - Ichimoku setup is back to neutral from bullish, with Chikou Span comeing back below Price candles. Price reached Kumo and key horizontal support. The...
Please see my latest calls and ideas about EURHUF through the links below. What has changed in last two days? Daily: - The Kumo and horizontal resistance ard 309,75-310 blocked further bearish move as Price got oversold - Slow Stoch is about to deliver a bullish signal (this indicator is very reliable in EURHUF when the signal happens at key levels) - Heiken...
Weekly: The main trend is still bullish, with trend and Kumo support around 305-307 area. This will be very important to watch in the future, as due to ECB QE at some point even EURHUF may break this long term trend. In case we see a weekly close below 305 in the coming months, that would open space down to 285-290. Heiken Ashi candle changed colour this week,...
Daily: Knee jerk bullish breakout on the day of SNB decision quickly faded. Why? Simple: Hungary doesn't really have FX risk exposure as the smart Government has already converted all CHF based private household loans to HUF at the end of last year. With not much FX risk left for the country, the pressure on HUF is limited. Short term their macro figures are not...
While the long term daily trend for EURHUF is still bullish, I see very high probability that we have the local top in ard 320, and EURHUF will start a correction lower soon. Let's check the levels. Note: to filter volatility and noise I use Heiken Ashi candles this time. Daily: Price reached trend channel top at/above 320. It was a decent and quick move from...
From the left side it is still neutral/bearish, but from the right side it is bullish. In fact it is boring, but it will soon be interesting as support/resistance levels are tightenning. Daily: Bearish Ichimoku setup, but if it can not print wave 5 point soon, but instead breaks the small bearish trendline and Kijun Sen, then we'll have bullish breakout from the...
The weekly stands close to value, and it looks like the bearish divergence will be cleared The daily chart shows a class A bullish divergence, confirmed by a bullish candle and the blue>green impulse. I am already long, and it looks like it is a good idea to add. Targets outlined on chart. Soft stop for this pair, it just loves false breakouts.
Daily: The major trend is still bullish for this pair. As you see the multi-year bullish trendline (light green) now stays together with a very important horizontal key support ard 301,80. From the 2014 top of 317 EURHUF has developed a counter trend with obviously decreasing waves. If I am right, we see the 4th wave right now, so short term the indication is buy,...
Private household loans conversion story is over. The local banking system got the necessary FX 7,8 bn EUR from the NBH today, and what is more important, the conversion took place at mkt rate (exactly at 308,97). This means in short term not much left to put pressure on the HUF. Daily: Slow Stoch and MACD turning down. After Kumo retest (almost touched 311)...
RSI ABOVE 50 + MACD CROSSOVER + TESTED TRENDLINE + BROKEN SHORT TRENDLINE + FIGHTING 200DMA. IF 200DMA IS VIOLATED A NICE LONG TRADE MIGHT TAKE PLACE
Hopefully not too early, but it looks more and more like a good buy soon for a 311-312,50 tgt. Daily: Trendline and horizontal support holds, MACD and Slow Stoch both up. 4 Hrs: Price is still below Kumo, but it printed a higher low today, which means the probability of double bottom is increasing. If it breaks higher, measured tgt from this pattern will be 312...
My last long EURHUF trade was not triggered as Price quickly dropped back below 4 Hrs Kumo. By now Price reached again key levels, where price action of next few days will be very important. Daily: After almost perfect Kijun retest Price fall back to bullish trendline and horizontal Key support. DMI opened back to bearish, but this is less relevant until ADX is...
Sorry, I forgot to attach daily chart in previous post. Daily: As EURHUF is a less liquid pair, there are lot of noise and long wicks sometimes on candles. This often makes a bit difficult to draw a proper trend. You can notice that I had to adjust the bullish trendline that I draw in my previous post. This dark kreen line seems to be more reasonable, as it has...
Daily: As EURHUF is a less liquid pair, there are lot of noise and long wicks sometimes on candles. This often makes a bit difficult to draw a proper trend. You can notice that I had to adjust the bullish trendline that I draw in my previous post. This dark kreen line seems to be more reasonable, as it has more touching points. And of course this also means that...
Daily: A longer term daily uptrend seems to be broken. Price below Kumo, Tenkan below Kijun and all averages point down, Chikou is below Price and also below Kumo now. DMI is bearish with increasing ADX. You see, even a ccy on which everybody was super bearish can suddenly reverse... with no carry at all. When something looks sht, just look ard, and you realise it...
EURHUF looked to step out of it's prev range on the downside. It broke below 312,50, and had a chance to move as low as 307,50-308. However the Kumo bottom (Senkou B) proved to be a strong resistance during this corretion and stopped further strengthenning. Price is now back to first key level at 312,50, flirting to break back above it. Daily: Price in the Kumo,...
Daily: Chikou Span hit Price candles, while we had a multiple resistance at 316 during last weeks. Slow Stoch down, MACD bearish too. (MACD has shown bearish divergence for a while). Price broke below Kijun Sen, Tenkan/Kijun can give a weak bearish signal soon. Key resistance to be cleared before it can drop further is 312 - 312,50. That would open the space to...