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CEEMEA FX Price Signal Summary - EURHUF Bear Cycle Extends

EMERGING MARKETS
  • EURHUF bearish conditions remain intact and the cross is trading lower today as the bear cycle extends. The recent breach of support at 388.34, the Apr 5 low, strengthened the bearish theme and note too that moving average studies have crossed into bear-mode position, highlighting a downtrend. The focus is on 382.34, the Feb 1 low. Initial resistance is at 388.72, the 20-day EMA.
  • EURPLN traded lower last week, extending the bear cycle that started Apr 16. The cross started this week on a bearish note and yesterday’s move lower resulted in a print below key support at 4.2527, the Apr 9 low. A clear break of this level would confirm a resumption of the medium-term bear trend and open 4.2131, the 1.00 projection of the Jan 17 - Apr 9 - Apr 16 price swing. Firm resistance is at 4.3028, the 50-day EMA.
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