EURHUF Daily Forecast May 01 2014

    The EURHUF  maintained a bearish momentum yesterday. Printed resistance at the 308.58  levels. This development leaves the pair targeting the 305.40  levels where a breach will turn the focus on the 304.00  levels. The further downside will aim the 302.60  levels.

    On the upside, resistance comes at the 307.72 levels ahead of 308.58  (main). A break of 308.58  levels on a daily basis would recapture the 309.55  levels, If this resistance is taken out, expect the pair to strengthen further towards the 310.63 levels, further upside will aim the 313.18  levels…

    In all, as long as resistance 308.58  holds on a daily closing basis, the outlook in EURHUF   remains on the downside towards the 305.40/304.00  levels, a break of 308.58  will reverse risks towards the 309.55/310.63  levels…

    EURHUF Daily Forecast May 01 2014