Forecasts & opinions
On the background of yesterday's mentioned mid-term scenario, the market is now offering a short-term setup with great potential in terms of risk/reward. The key level is 310, where the bears could take control and drive the pair back lower into the 308-308.20 area. Stops for this setup start right above 310.60.
On the other hand, a break of 310.60 should lead the pair up to
312.80 and then 316.50, as the breakout mentioned yesterday will
be confirmed as a false breakout.
Since the beginning of 2014, with the rare exceptions of some brief spikes,
the Hungarian currency has ranged between 295 and 320 HUF per Euro.
Compared to the steady drop of the Forint of 2008-2009, the recent 3
year-period 2014-2016 can be considered one of relative stability. HUF is
technically still in a bearish uptrend compared to the EUR and USD, however
there are signs that a possible correction could be showing its first
|remaining time till the new event being published|
- ECB's Coeure: Central bank has instruments and we've shown that we're ready to use them
- British Chambers of Commerce (BCC) trims UK growth outlook
- UK house prices rise slightly In June - Rightmove
- China central bank injects funds, second phase of RRR cut takes effect