Free Trial

CEEMEA FX Price Signal Summary - EURHUF Continues To Weaken

EMERGING MARKETS
  • EURHUF continues to weaken. The cross last week breached support at the 50-day EMA, which intersects at 385.34. The clear break of the average is a bearish development and exposes 378.24, the Aug 30 low. Key resistance is at 394.67, the Aug 3 high. Clearance of this level would resume the uptrend and open $402.45, the Mar 20 high. Initial resistance to watch is at 389.20, the Oct 9 high.
  • EURPLN remains vulnerable following the sharp sell-off early last week. Short-term gains are considered corrective and would allow an oversold condition to unwind. The break below the 4.5000 handle signals scope for an extension towards 4.3986, the Jul 31 low and the next major support. A break of this support would open 4.3711, the Jun 3 2020 low. Resistance is at 4.5359, the 50-day EMA.

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.