EUR/HUF 1H Chart: Long-term channel in sight

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

The EUR/HUF currency pair has been testing the upper boundary of the long-term descending channel located circa 324.70 since the beginning of May.  

From a theoretical point of view, it is expected, that a reversal south could occur in the nearest future. A possible downside target is the support level formed by the Fibonacci 50.00% retracement at 320.26. 

However, note, that the exchange rate is supported by the 55-, 100– and 200-hour SMAs. Thus, if the given channel does not hold, a breakout north could occur within the following trading sessions. The pair could reach the Fibonacci 0.00% retracement at 330.47.

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