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EURHUF Short-Term Scenario - Breakout Confirmed?

05 October 2016

Last week we were signaling possibly interesting scenarios on the Hungarian Forint, with price being at a key level (310) at the time.

Now price is testing the 306 level, after turning 310 into a Key resistance for short-term. As this level has resisted a new test last week, now it should become the pivotal point for bull/bear scenarios, as the failed attempt at 310 further strengthened the importance of this psychological level.

What about you? Are you trading the Forint? Where do you see it short-term?

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Everything posted herein is the Personal Opinion of the Author(s) and does not represent a statement made by TeleTrade. TeleTrade is providing this for informational purposes.

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