Free Trial

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

EMERGING MARKETS
  • EURHUF remains in a downtrend and the cross has traded lower today as it starts the week on a bearish note. Price last week breached support at 378.24, the Aug 30 low. A clear break of this level would strengthen a bearish theme and open 373.98, the 76.4% retracement of the Jun 12 - Aug 3 bull leg. Firm resistance has been defined at 386.29, the Oct 25 high. Initial resistance is at 381.75.
  • EURPLN remains vulnerable following the Sep 12 - Oct 17 sharp sell-off and recent short-term gains are considered corrective. A move higher would allow an oversold condition to unwind. The recent break of 4.5000 signals scope for an extension towards 4.3986, the Jul 31 low and the next major support. A break of this level would open 4.3711, the Jun 3 2020 low. Resistance is at 4.4981, the 50-day EMA

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.