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CEEMEA FX Price Signal Summary - EURHUF Bearish Trend Sequence Remains Intact

EMERGING MARKETS
  • EURHUF trend conditions remain bearish. Last Thursday’s move lower confirmed a resumption of the downtrend - support at 386.22, the Jan 26 low, has been breached. This signals scope for weakness towards the 380.00 handle and 376.06, the 1.236 projection of the Oct 13 - Nov 10 - Dec 12 price swing. Initial resistance is at the 50-day EMA that intersects at 397.51. The latest bounce is considered corrective. A clear break of the 50-day EMA is required to signal scope for a stronger recovery - towards 401.20, the Nov 17 high.
  • EURPLN traded higher Tuesday, extending Friday’s gains and the reversal from 4.6787, the Feb 2 low. The cross has cleared resistance at 4.7453, the Jan 19 high and a bull trigger. A continuation higher would pave the way for a climb towards 4.7945, the 61.8% retracement of the Sep 30 - Dec 26 bear leg. The cross is lower today. A break of 4.6787 would reinstate a bearish theme.

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