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CEEMEA FX Price Signal Summary - Another Fresh Cycle Low In EURPLN

EMERGING MARKETS
  • EURHUF trend conditions remain bearish and the cross traded to a fresh cycle low of 368.05 yesterday. Attention is on the bear trigger at 369.47, the Apr 18 low, which has been pierced. A clear break would resume the primary downtrend and open 366.41, the Mar 30 2022 low. Key resistance to watch is at 377.03, the 50-day EMA.
  • EURPLN has traded to a fresh cycle low once again today and the downtrend has recently accelerated. The move lower reinforces bearish conditions and maintains the price sequence of lower lows and lower highs. The 4.50 handle has been cleared and 4.4826, the Feb 16 2022 low, has been pierced. This opens 4.4360, the Jun 7 2021 low. Initial firm resistance to watch is at 4.5658, the 20-day EMA.

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