Participant

This European emerging market currency seems to be headed for a major trend reversal. Last February saw the Forint break the downside of the Ichimoku cloud on the weekly chart, which then saw price go to a low of 295.54 from its high at 326.92 before bouncing back up. It has already broken the upside of the Ichmoku cloud and ADX and Oscillators showing still more room for momentum on the upside. It has also broken the 1 week cloud if price action stays above 308.76. Fibonacci retracement lines show how price is currently above the 38.2% line . I expect a break of the 50% line to lead to further rises towards the 61.8% line at 314.90

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