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CEEMEA FX Price Signal Summary - EURHUF Key Resistance Remains Exposed

  • EURHUF continues to consolidate above support. Trend conditions remain bullish and the recent pullback that started Aug 3, appears to be a correction. The move lower has allowed an overbought trend condition to unwind. The 50-day EMA represents the next important support and intersects at 381.40. A resumption of gains would refocus attention on 394.67, the Aug 3 high. Clearance of this level would resume the uptrend. On the downside, a break of the 50-day average, would expose 376.78, the Jul 25 low.
  • EURPLN trend conditions remain bearish, however, recent gains signal scope for a stronger short-term corrective bounce. The cross has traded through the 50-day EMA - at 4.4649 - which has provided a firm resistance recently. 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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