USDHUF Buy IdeaUSDHUF Buy Idea @Weekly Demand Zone (253.474 - 250.029)
Buy Limit: 253.402
Stop Loss: 249.648
Take Profit: 260.852
USDHUF trade ideas
USDHUF - Short Opportunity 1DUSD broke falling wedge on daily against HUF. It has completed 5 waves of the recent mid-term bullrun and is starting an ABC correcion potentially. RSI is showing bearish divergence on daily.
There is a short term 0.786 support of the overall Elliot 1-5 cycle at around 276.6 level - I am expecting this to break given the bearish confluences (falling wedge pattern and RSI divergence) and the target I am looking for as the A leg correction is the 0.618 level - just above 270.1. This is the upper level of a support zone between 267.3 - 270.1 (267.3 is the 0.382 of the previous mid-term bearish swing and 0.786 fib of the mega long-term bullish swing starting from 142 in 2008).
These are my personal views. Please trade carefully and with capital you can afford to lose! Comments are very welcomed!
USDHUF long, break above 61.8 fib level, EM market weakness playHUF is an emerging currency, with no positive carry value -> risk-off sentiment = sell HUF
The economy is export driven, weaker HUF does not hurt the government in the short run
Monetary policy divergence got stronger
Cons:
- NBH can decide to verbally intervene in the HUF market especially because of EURHUF rate
Channel Up on 1D. Long.USDHUF is consolidating (4H RSI = 54.112, ADX = 17.781) on the Higher Low line of the 1D Channel Up (RSI = 63.148, Highs/Lows = 0.2450). We are going long, TP = 283.200.
USDHUF started corrective action...USDHUF started corrective action. Two fractal movements can be identified in the exchange rate. In the second fractal I have a growth of 1.68 ATR. From this, the second fractal target is 264.93 HUF. From this level, the rise can continue.
USDHUF: Buy after pivot breakoutWe are buying a pivot breakout at the 60 minutes that is a continuation of a major uptrend at H4.
The stop loss is at the last bottom of the pivot an the target at a 100% fibo expansion.
SELL then BUY2 different trades back to back. First sell then buy.
Strong buy zones (yellow bubbles)
GOOD LUCK!!
USDHUF Intraday Trading planI will consider a short from 256.000- 256.200 area
Targets are according to the fib levels, taking out profit at .5 Fib line
USDHUF buy ideaUSDHUF buy idea @ Demand Zone 250.910 - 242.360
Buy Limit: 251.017
Stop Loss: 241.291
Take Profit: 263.522
USDHUF: bearishSell USDHUF. Touching resistance as well as SMA50. In addition, doji formed yesterday.
USDHUF great long opportunity. USDHUF should turn into bullish flag now. RSI and MACD are looking good.
I think a good entry level is around 259.637 with an opportunity to buy more at 259.139.
TP at FIB 0.382 at around 263.
SL at 258.374.
USDHUF shortthe mkt break below the support and retested, but last week's candle is not quite bearish
