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CEEMEA FX Price Signal Summary - EURHUF Bears Remain In The Driver’s Seat

EMERGING MARKETS
  • EURHUF trend conditions remain bearish and the cross has traded lower today to test support at 393.64, the Jan 9 low. A clear break of this support would confirm a resumption of the downtrend and open 391.55, the Aug 12 low. For bulls, initial firm resistance is at 403.18, the 50-day EMA. A clear break of this EMA would be a positive development.
  • The EURPLN outlook still appears bearish. The break of support at 4.6528 in December, the Aug 15 low, highlights a resumption of the downtrend and has opened 4.6262 next, the Jun 21 low, ahead of the 4.6000 handle. Most recently, the cross has recovered from its lows but remains below resistance and short-term gains are considered corrective. Resistance to watch is 4.7220, the Dec 6 high. A break of this hurdle would instead suggest potential for a stronger recovery and open 4.7500.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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