- Analytics
- News and Tools
- Market News
- EUR/HUF: Failure to defend 379 could mean a deeper down move towards 372 – SocGen
EUR/HUF: Failure to defend 379 could mean a deeper down move towards 372 – SocGen
EUR/HUF has pulled back after challenging the 200-DMA near 399/402. A break below would open up more losses toward 372, then 367, analysts at Société Générale report.
399/402 must be overcome to affirm an extended bounce
“The 200-DMA around 399/402 remains a crucial resistance zone and must be overcome to affirm an extended bounce.”
“The pair is drifting towards interim support of 379, the 76.4% retracement from the low formed earlier this month. Failure to defend could mean a deeper down move towards 372 and perhaps even towards the lower limit of a multi-month channel at 367.”
© 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.
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.
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
