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CEEMEA FX Price Signal Summary - EURHUF Bear Cycle Remains In Play

EMERGING MARKETS
  • EURHUF bearish conditions remain intact and the cross is trading closer to its recent lows. 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. This signals scope for an extension towards 382.34, the Feb 1 low. Initial firm resistance is at 389.86, the 50-day EMA.
  • EURPLN traded lower last week, extending the bear cycle that started Apr 16. Monday’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 4.2995, the 50-day EMA.
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