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CEEMEA FX Price Signal Summary - EURHUF Key Support Remains Exposed

EMERGING MARKETS
  • The EURHUF outlook remains bearish following recent weakness and the break of support at 405.14, Oct 21 low. The move lower confirmed the recent bear flag formation and resumes the bearish cycle that has been in place since Oct 13. The 400.00 handle has been pierced. A clear break would open key support at 394.07, the Sep 8 low. Firm resistance has been defined at 416.03, the Oct 24 high. Initial resistance is at 409.44, the 50-day EMA.
  • EURPLN maintains a bearish tone despite today’s gains. The cross has recently cleared the 50-day EMA and cleared trendline support drawn from the Jun 8 low. A resumption of weakness would expose 4.6528 next, the Aug 15 low. Initial firm resistance is seen at 4.7506, the 50-day EMA.

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