USD/HUF issued a Golden Cross

USD/HUF is undergoing a Golden Cross on daily charts, traditionally considered a bullish omen.

The USD/HUF's 50-day MA crossed above its 200-day trend. Previous instances tell us that this event becomes extremely rare if the pair has witnessed a meaningful correction before or during the crossover. This bounce allows trend-following USD/HUF traders to adhere to the trend at fair valued prices following an otherwise very risky signal.