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CEEMEA FX Price Signal Summary - EURHUF Corrective Cycle Remains In Play

  • The trend condition in EURHUF is bearish, however, a bullish corrective cycle remains in play and price continues to climb. The next key resistance is at 378.79, the May 19 high. A break of this hurdle is required to signal a reversal. On the downside, key support and the bear trigger is 367.59, the Jun 12 low. Clearance of this level 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 short-term gains are considered corrective. The recent breach of key short-term support at 4.4307, the Jun 12 low, confirms once again a resumption of the downtrend, extending the bearish price sequence of lower lows and lower highs. A continuation lower would open the 4.40 handle next. The 50-day EMA intersects at 4.5076. A break of this average would alter the picture.

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