EUR/HUF Looks Overbought

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The Hungarian Forint could pick up some steam against the Euro in the first quarter in 2020. As the Euro strengthened a fair bit in recent years during the first quarter we could also see the same happening for now. The Hungarian forint also slumped over 1.6% versus the dollar across the previous week.

The market seems at good resistance and we like to sell EUR/HUF at 337.40 with SL at 339.40 and TP at 333.90 (or lower) should the corrective move down pick up more traction.

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