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USD/HUF Potential Upward Movement

USD/HUF Long-Term Trend: Bullish

Key Resistance Levels: 313.758, 316.138, 317.000.

Key Support Levels: 310.807, 306.093, 304.280.

Daily Chart:

The price on the higher time frame succeeded to break the 318.807 HUF mark and retrace to it with long wicks to the downside. This shows obviously that the buyers are still in control of the market and we expect further movement to the upside toward the key resistance level.

USD/HUF Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the pair showed higher lows movement where long wicks as well has been left on the 4-hour time frame. We expect a lower correction to the 310.807  HUF mark before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 310.872

TP 1 @ 313.652

TP 2 @ 316.138

Stop Loss @ 309.723

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. Please stop making exotic pair signal 🙁

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