USD/HUF Potential Upward Movement

USD/HUF Long-Term Trend: Bullish

Key Resistance Levels: 312.420, 314.457, 315.000.

Key Support Levels: 310.843, 309.145, 309.000.

Daily Chart:

The price on the higher time frame found support around the 309.193 where a relevant price action has been posted along with a 50% Fibonacci retracement level. This shows the end of the retracement, and we expect the market to start to move upward in the coming hours.

USD/HUF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside where a double bottom has been level. now the market is traded above the 310.772 HUF level where we expect a slight correction before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 310.896

TP 1 @ 312.293

TP 2 @ 314.457

Stop Loss @ 310.197

Trade Safely 🙂