USDHUF Major double bullish break-out took place yesterday

3 Okt

The USDHUF pair achieved a huge double bullish break-out yesterday as not only did it break above Resistance 1 (360.650) but also above (and closed) the top (Lower Highs trend-line) of the 4-month Descending Triangle pattern. At the same time it closed above its 1D MA200 (orange trend-line).

This is a major buy signal for the long-term, but even if we keep a short-term perspective, we can now target 367.500 (just below Resistance 2) with a lower risk factor than before.

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