MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary - EURHUF Bounce Extends

EMERGING MARKETS
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • EURHUF continues to appreciate this week and the cross is trading higher again today. The latest rally has resulted in a break of both the 20- and 50-day EMAs, signalling scope for a continuation higher near-term. Attention turns to trendline resistance at 392.08. The trendline is drawn from the Mar 12 high and represents the next important resistance. To resume the recent downtrend, the cross needs to clear key support at 382.72, the May 28 low.
  • EURPLN has also recovered from its recent lows and the cross has pierced resistance at the 50-day EMA - 4.2928. A clear break of the EMA would signal scope for a stronger bounce and open 4.3070, the May 13 high. For now, the move higher appears to be corrective. A reversal lower and a break of 4.2471, the May 28 low, would confirm a resumption of the downtrend. This would open 4.2131, the 1.00 projection of the Jan 17 - Apr 9 - Apr 16 price swing.
163 words

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.
  • EURHUF continues to appreciate this week and the cross is trading higher again today. The latest rally has resulted in a break of both the 20- and 50-day EMAs, signalling scope for a continuation higher near-term. Attention turns to trendline resistance at 392.08. The trendline is drawn from the Mar 12 high and represents the next important resistance. To resume the recent downtrend, the cross needs to clear key support at 382.72, the May 28 low.
  • EURPLN has also recovered from its recent lows and the cross has pierced resistance at the 50-day EMA - 4.2928. A clear break of the EMA would signal scope for a stronger bounce and open 4.3070, the May 13 high. For now, the move higher appears to be corrective. A reversal lower and a break of 4.2471, the May 28 low, would confirm a resumption of the downtrend. This would open 4.2131, the 1.00 projection of the Jan 17 - Apr 9 - Apr 16 price swing.