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CEEMEA FX Price Signal Summary - EURHUF Bear Threat Remains Present

EMERGING MARKETS
  • The short-term outlook in EURHUF remains bearish. Attention has been on resistance at 416.03, the Oct 24 high. A break of this hurdle would be bullish and suggest scope for a stronger recovery instead. This would open 420.00 and above. On the downside, initial support is at 404.39, Wednesday’s low. A breach of this level is required to strengthen a bearish case and this would expose support at 398.30, the Nov 10 low.
  • EURPLN conditions remain bearish. This follows the recent breach of the 50-day EMA and the break of trendline support drawn from the Jun 8 low. The trendline provided resistance last week. A resumption of weakness would expose 4.6528 next, the Aug 15 low. Initial firm resistance is seen at 4.7848, the Nov 16 high.
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