EUR/HUF may rise 109 - 163 pips

Our pivot point stands at 388.69.

Our preference

The upside prevails as long as 388.69 is support.

Alternative scenario

Below 388.69, expect 387.78 and 387.24.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 389.24 and 389.03). Finally, the EUR/HUF is trading above its upper Bollinger band (standing at 389.63).

Supports and resistances

392.37 **

391.83 *

391.29 **

390.75

389.66 last

389.04

388.69 **

387.78 *

387.24 **

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