EUR/HUF may rise 93 - 138 pips

399.56 is our pivot point.

Our preference

The upside prevails as long as 399.56 is support.

Alternative scenario

The downside breakout of 399.56 would call for 398.81 and 398.36.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 399.93 and 399.98). Finally, the EUR/HUF has crossed above its upper Bollinger band (400.27).

Supports and resistances

402.56 **

402.11 *

401.66 **

401.21

400.28 last

399.85

399.56 **

398.81 *

398.36 **

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