EUR/HUF 1H Chart: Downside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The EUR/HUF exchange rate has been declining since the middle of February when it reversed south from the Fibonacci 50.00% retracement at 320.26.  

Given that the currency pair is being pressured by the 55-, 100– and 200-hour SMAs, it is likely that bears prevail in the market. Most likely, the rate reaches the lower boundary of the long-term descending channel located circa 313.00. If given channel holds, a reversal north occurs within following sessions.  

If given channel does not hold, it is expected that the pair targets the Fibonacci 100.00% retracement at 310.05.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.