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CEEMEA FX Price Signal Summary - EURHUF Extends Recovery From Last Week’s Low

EMERGING MARKETS
  • EURHUF is trading higher today as it extends the recovery from last week’s low of 378.24 on Aug 30. The cross has breached resistance at 384.71, the Aug 24 high. A clear break would signal a possible reversal and suggest scope for a climb towards 391.64, the Aug 21 high. On the downside, the short-term bear trigger has been defined at 378.24. A break of this level would resume bearish activity and open 377.93 and potentially 373.98, the 61.8% and 76.4% retracement points of the move higher between Jun 12 - Aug 3.
  • EURPLN trend conditions remain bearish, however, gains in August signal scope for a stronger short-term corrective bounce. The cross has traded through the 50-day EMA - at 4.4657. The move higher exposes 4.5040, the Jul 6 high and a key resistance. Clearance of this level would signal scope for a stronger short-term recovery. On the downside, key support and the bear trigger lies at 4.3986, the Jul 31 low. A breach would resume the medium-term downtrend.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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