Hungarian Forint is Hungry Like the Wolf!

The usdhuf forex pair is consolidating nicely (+7 months)¬†after reaching it’s target from a bullish breakout early this year. The new break lines have been drawn along with their implied measured moves when a monthly candle can close beyond them. Check out the monthly candle chart. A convincing close above 283 would give a bullish target of 296. A close below 270 would give a target at 257.

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More of the same on the 5 year weekly candle chart.

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A final zoom in on the 1 year daily candle chart. Current price action just tested the breakdown line.

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Set my alerts and will come back when triggered. Let’s see how hungry the Forint is! For more insight on my trading protocols, check my “How To” here.

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