EUR/HUF may rise 136 - 187 pips

Our pivot point is at 392.87.

Our preference

The upside prevails as long as 392.87 is support.

Alternative scenario

The downside breakout of 392.87 would call for 392.02 and 391.51.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 393.30 and 393.22). Finally, the EUR/HUF has crossed above its upper Bollinger band (393.80).

Supports and resistances

396.99 **

396.48 *

395.97 **

395.46

394.10 last

393.21

392.87 **

392.02 *

391.51 **

Number of asterisks represents the strength of support and resistance levels.