Free Trial

CEEMEA FX Price Signal Summary - EURHUF Key Short-Term Support Remains Exposed

EMERGING MARKETS
  • EURHUF traded sharply higher on Apr 19 and breached the 20-day EMA. The cross has failed to hold on to those gains and has traded lower since Apr 20. Any resumption of the recovery would open 380.17, the 50-day EMA. A clear break of the average is required to signal a stronger reversal. Attention is on the bear trigger at 369.47, the Apr 18 low. Clearance of this level would resume the primary downtrend and open 366.41, the Mar 30 2022 low.
  • EURPLN remains in a downtrend and the cross traded to fresh cycle lows last week. The recent sell-off resulted in a breach of 4.6270, the Dec 26 low, reinforcing bearish conditions and this confirmed a resumption of the broader downtrend. The focus is on 4.5599 next, the May 30 2022 low. Initial firm resistance to watch is 4.6242, the 20-day EMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.