Hungarian Forint Downtrend Against Euro Deepens
- Technical Analysis Outlook: Analysts at Societe Generale project further downside for the EUR/HUF exchange rate, setting target levels at 352 and 350, indicating that the current downtrend may persist and influence forex trading strategies.
- Key Support Level Break: The EUR/HUF pair has broken below several key support levels, with 352 and 350 serving as psychological and technical support zones, suggesting that if selling pressure continues, the pair could test 350, impacting market sentiment.
- Fundamental Drivers: Improved economic data from Hungary and a hawkish stance from the central bank enhance the forint's appeal, as inflation, while still high, shows signs of moderating, reducing the need for ultra-loose monetary policy.
- Trader Strategy Adjustments: Forex traders should focus on short positions targeting the 352-350 zone, although caution is advised as the forint's strong rally may be overextended in the short term, necessitating vigilance against potential market reversals.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0209 | 0.027 | 0.0316 | 0.0377 | 0.0423 | 0.0484 | 0.053 |
| Fibonacci | 0.027 | 0.0311 | 0.0336 | 0.0377 | 0.0418 | 0.0443 | 0.0484 |
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