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CEEMEA FX Price Signal Summary - Bullish Extension In EURHUF

EMERGING MARKETS
  • Medium-term trend conditions in EURHUF remain bullish and today’s gains have reinforced this theme. The cross has breached resistance at 381.95, the Jul 20 high. This confirms a resumption of the bull cycle that started on Jul 17. A continuation higher would signal scope for a test of key resistance at 389.26. On the downside, weakness through 371.74, the Jul 17 low, would instead expose key support at 367.59, the Jun 12 low.
  • EURPLN trend conditions remain bearish. The cross has recently pierced resistance at 4.4791, the 50-day EMA. A clear break of this average would signal scope for a stronger short-term recovery and open 4.5480, the Jun 1 high. The cross is trading lower today. The bear trigger lies at 4.4138, the Jul 4 low. Clearance of this level would confirm a resumption of the downtrend and open the 4.40 handle ahead of 4.3822, the Aug 28 2020 low.

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