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

EMERGING MARKETS
  • Trend conditions in EURHUF remain bullish, however, a corrective cycle is in play and the cross remains soft following last week’s move lower. The 20- and 50-day EMAs have been cleared and this signals scope for a continuation lower near-term, towards 386.39, the Feb 22 low. For bulls, a reversal higher would refocus attention on the key resistance and bull trigger at 399.75, the Mar 12 high. Initial firm resistance is at 395.77, the Apr 2 high.
  • Trend conditions in EURPLN remain bearish. The cross on Mar 11, cleared key support and the bear trigger at 4.2935, the Dec 13 low. This confirmed a resumption of the downtrend that started in September last year and opens 4.2371, the Feb 14 2020 low. Price is approaching the next support and bear trigger at 4.2749, the Mar 11 low. A break would confirm a resumption of the downtrend. Initial firm resistance is seen at 4.3161, the 50-day EMA. A clear break of this average would signal scope for a stronger correction and open 4.3564, the Feb 7 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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