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CEEMEA FX Price Signal Summary - EURHUF Correction Still In Play

EMERGING MARKETS
  • EURHUF traded higher yesterday and recent gains highlight a short-term reversal. Price is above the 50-day EMA - at 387.54 - and a continuation higher would open 400.00 and 401.20, the Jan 17 high. On the downside, key support and the bear trigger has been defined at 372.38, the Mar 1 low. Initial support is at 382.45, the 20-day EMA.
  • EURPLN is in consolidation mode. The cross remains vulnerable despite the bounce from 4.6620 Mar 1 low. Recent weakness signals scope for a test of support at 4.6573, the Jan 4 low. Clearance of this level would strengthen a bearish argument and open 4.6270, the Dec 26 low and the next key support. Initial firm resistance to watch is 4.7119, the 50-day EMA.

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