USDHUF Bearish leg within a Channel Up.

13 oct. 2023

The USDHUF pair is trading within a Channel Up pattern, currently extending the bearish leg after a Higher Low on Resistance 1 (375.600). The previous bearish leg hit the 1D MA50 (blue trend-line) and then rebounded, so we are expecting a similar development. As long as the pair is closing the 1D candles above the 1D MA50, we will be bullish, targeting Resistance 2 (381.3500) as part of the next Higher High. If it closes below the 1D MA50, we will take the loss and counter with a sell position, targeting 345.700 (Support 2).

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