EURHUF Possible Bearish A-B-C Setup (Swing)
27.10.2016, 08:18

EURHUF Possible Bearish A-B-C Setup (Swing)

A while back, we published an analysis on EURHUF in which we were presenting a possible bearish scenario on the Hungarian Forint, a scenario that since that moment has been confirmed.


Today we are again looking at interesting opportunities on the HUF, with swing traders possibly looking for re-entries for the new leg down:

This A-B-C pattern has been confirmed by a break of the 307.80 level on weeklies, with price now correcting back into the 310 key area. If the bearish setup is correct, then swing traders are expected to position themselves here for a 2-3 months ride down, targeting below 300 in mid-term.


On the other hand, a solid new breach of 310, with price maintaining above this level for a few weeks would invalidate the setup and open the door for a new test of 319, followed by 325.


What is your view on the Forint? Do you see it appreciating in the next few weeks?

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location