EUR/HUF 1H Chart: Steep short term pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Buy Neutral Sell
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The last review of the EUR/HUF pair mentioned the reveal of a dominant pattern, whose resistance has pushed the rate lower. 

The decline had extended through the first week of July. Namely, on Thursday the rate had touched the 323.00 level. The decline had been occurring in a narrow, very steep, most likely short term descending channel pattern. This pattern is most likely going to guide the rate for the next 24 hours until the currency pair reaches the S1 at the 320.54 mark. 

However, note that the pattern is too narrow to last that long. A decline so steep very rarely lasts that long.

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