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EURHUF Short-Term Scenarios: Price at Key Level

30 September 2016 Trading Tools

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.

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Hungarian Forint HUF Ready for a New Move?

30 September 2016 Trading Tools

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 signs.

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Market focus

  • 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

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