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CEEMEA FX Price Signal Summary - EURHUF Corrective Bounce Extends

EMERGING MARKETS
  • EURHUF has recovered from its recent lows. Despite this bounce, the trend condition remains bearish and short-term gains are considered corrective. However, the cross has breached the 50-day EMA and this suggests scope for an extension higher. The next key resistance is at 378.79, the May 19 high. On the downside, key support and the bear trigger is 367.59, the Jun 12 low. A break would resume the downtrend and open 366.41, the Mar 30 2022 low and the 360.00 handle further out.
  • EURPLN trend conditions remain bearish and the cross traded to a fresh cycle low on Monday. This once again confirmed a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. A continuation would open the 4.40 handle next. The 50-day EMA intersects at 4.5461. A break of this average would alter the picture. The 20-day EMA marks initial resistance at 4.4937.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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