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EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURHUF Bull Trend Intact

EMERGING MARKETS
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  • The EURHUF trend condition is unchanged, it remains bullish and the latest strong rally reinforces current conditions. Resistance at 415.54, the Nov 29 high, has been pierced. A clear break would confirm a resumption of the uptrend, paving the way for gains towards 418.50, the 76.4% retracement of the Oct ‘22 - Jun ‘23 bear cycle.  Support to watch is 408.23, the 50-day EMA. A clear break of this average would signal scope for a deeper pullback - towards 405.52, the Nov 15 low. The 20-day EMA is at 411.33. 
  • A bear cycle in EURPLN remains in play. The cross has recently breached the 50-day EMA, and traded through 4.2812, the 76.4% retracement of the Sep 25 - Nov 6 bull cycle. Last week’s activity  resulted in a print below 4.2520, the Sep 25 low and a key support. A clear breach of this level would open 4.2471, the May 28 low. Further out, scope is seen for an extension towards the 4.2000 handle. On the upside, resistance to watch is 4.2791, the 20-day EMA. The 50-day EMA is at 4.2956.
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  • The EURHUF trend condition is unchanged, it remains bullish and the latest strong rally reinforces current conditions. Resistance at 415.54, the Nov 29 high, has been pierced. A clear break would confirm a resumption of the uptrend, paving the way for gains towards 418.50, the 76.4% retracement of the Oct ‘22 - Jun ‘23 bear cycle.  Support to watch is 408.23, the 50-day EMA. A clear break of this average would signal scope for a deeper pullback - towards 405.52, the Nov 15 low. The 20-day EMA is at 411.33. 
  • A bear cycle in EURPLN remains in play. The cross has recently breached the 50-day EMA, and traded through 4.2812, the 76.4% retracement of the Sep 25 - Nov 6 bull cycle. Last week’s activity  resulted in a print below 4.2520, the Sep 25 low and a key support. A clear breach of this level would open 4.2471, the May 28 low. Further out, scope is seen for an extension towards the 4.2000 handle. On the upside, resistance to watch is 4.2791, the 20-day EMA. The 50-day EMA is at 4.2956.