USDHUF appears to have completed a triangle to finish Wave 4 Green and should soon break to new lows in a Wave 5 Green. The 55 hour moving average has been fairly reliable resistance throughout this impulse lower. Therefore if price moves significantly higher than this moving average it is likely Wave 4 Green is still unfolding in a more complex correction.
This is a pair that I have only recently begun trading, but I feel that it exhibits more defined wave patterns than most highly liquid currency pairs. Perhaps, this is a result of a more localized populace trading this pair than the more liquid crosses, allowing their social mood (and therefore price) to fluctuate in unison.
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