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CEEMEA FX Price Signal Summary - EURHUF Finds Support

EMERGING MARKETS
  • EURHUF has recovered from yesterday’s low and is trading higher today. The recovery is a bullish development and suggests that the bear leg between Sep 28 - Oct 24, is over. If correct, this highlights a stronger reversal and potential for a continuation higher. The focus is on resistance at 389.20, the Oct 9 high. A break of this level would expose key resistance at 394.67, the Aug 3 high. On the downside, a break of 380.73, yesterday’s low, would reinstate a bearish theme.
  • EURPLN remains vulnerable following the sharp sell-off early last week. Short-term gains are considered corrective - for now - and would allow an oversold condition to unwind. The recent break below the 4.5000 handle signals scope for an extension towards 4.3986, the Jul 31 low and the next major support. A break of this level would open 4.3711, the Jun 3 2020 low. Resistance is at 4.5302, the 50-day EMA.
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