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Friday, March 2, 2012

USD/HUF - Breaking out?

USD/HUF - The Hungarian Forint has gained strength since early December 2011, but this strength might be coming to an end. It seem that we are about to break above the resistance-line and the last part of the decline towards the 50% retracement mark of the rise from 176.64 to 251.98 at around 214 saw positive divergence building at the MACD-Indicator.
A clear break above the resistance-line at 216.80 should call for a new rally towards the strong neckline resistance at 252

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