USDHUX trade ideas
USDHUFHello, here is my analysis for USDHUF. Let me know in the comment section if you guys have any questions. If you like my analysis please hit like. Thanks.
USDHUF technically based forecast
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I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas
💡 USDHUF technicaly based idea, we can see price is bounce from bottom trend line, candels formation is good bulish, technicaly indicators showing we can expect higher push up in price exepcting push till top trend line.
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USD HUF SELL (US DOLLAR - HUNGARIAN FORINT)Hi there. Price is forming a possible continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
USDHUF possible Head and Should formation (similar to USDTRY)USDHUF is similar to USDTRY but this has 2 possible pattern. Either M pattern if it will have a deep retracement or a head and should pattern if the market starts to retrace towards 332.000.
USDHUF ShortThe Hungarian government will publish its economic stimulus on Monday or Tuesday ( 04.06.-04.07).
Plus, last week the MNB just intervened, which will raise the price of short bets against the Hungarian currency.
In my opinion, this will calm the investors a little bit.
If it turns down, then a nice Head and Shoulder pattern will form.
My target price for a short,-midterm is around 319.9
USD/HUF 1H TimeframeHere is my analysis for USD/HUF. IN this pair it is my first time using FIB so i just would like more experienced trades could take a look and tell me if i used it correctly!
USD/HUF will continue its rally to retest its previous highThe pair will continue its rally to retest its previous high. The US market had a roller coaster ride last month following the threats posed by coronavirus to its economy. Currently, the US had already the largest cases of coronavirus around the world. In response to this, the US Congress approved a $2 trillion stimulus package needed to save the US economy. However, this might be far from over. Last week, the US had the largest jobless claim in history at 3.24 million. The US said it is expecting the number to reach 3.50 million this week. However, analysts expect the number to continue growing after US President Donald Trump said the next two (2) weeks might be the most painful time. The death toll relating to coronavirus is expected to reach 240,000. Despite the negative reports, investors are optimistic about the USD. Trump and the Congress were already discussing the next stimulus package on top of the $2 trillion packages already approved.
USD HUF SELL (US DOLLAR - HUNGARIAN FORINT)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
USDHUF expecting higher push in price techicaly based
ENTRY: 298.200
TP: 299.500
TP2: 300.500
TP3: 301.300
SL: 296.600
Chart time frame - 4H
Time for reaching TP - 1-2D
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USDHUF expecting higher bearish continuation technicaly based
ENTRY: 297.500
TP: 295.000
TP2: 292.000
TP3: 289.000
SL: 299.000
Chart time frame - 1W
Time for reaching TP - 1-2W
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USDHUF technicaly side more bearish
ENTRY: 306.900
TP: 306.000
TP2: 305.000
TP3: 304.000
SL: 308.500
Chart time frame - 1W
Time for reaching TP - 1W
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USD/HUF will break down from a steep uptrend channel resistanceThe pair will break down from a steep uptrend channel resistance line. Analysts anticipate Hungary to retain its GDP growth of 4.5% in today’s trading session. Hungary is one of the fastest growing economies in the European Union. Its low exposure to the German economy gave investors relief that Budapest will outperform the broader EU economy. Meanwhile, the US is also set to publish its gross domestic product (GDP) report today, February 27. On January 30, Washington published the fourth and final GDP results for 2019. The country was able to tap expectations of 2.1%, which is also the same figures for the third quarter. However, the threat of coronavirus creeps on the report to be published today. The COVID-19 originated from Wuhan, China. As the Chinese government prioritizes the virus, it may not fulfill its obligations under the phase one trade deal with the US. This, in turn, might spark the continuation of the US-China trade war.
