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CEEMEA FX Price Signal Summary - EURHUF Maintains A Softer Short-Term Tone

EMERGING MARKETS
  • Trend conditions in EURHUF remain bullish, however, a corrective cycle is in play and the cross remains soft following last week’s move lower. The 20- and 50-day EMAs have been cleared and this signals scope for a continuation lower near-term, towards 386.39, the Feb 22 low. For bulls, a reversal higher would refocus attention on the key resistance and bull trigger at 399.75, the Mar 12 high. Initial firm resistance is at 393.00, the 20-day EMA..
  • Trend conditions in EURPLN remain bearish and this week’s break lower reinforces current conditions. Support at 4.2749, the Mar 11 low, has been cleared confirming a resumption of the downtrend and opens 4.2371, the Feb 14 2020 low. Initial firm resistance is seen at 4.3120, the 50-day EMA. A clear break of this average would signal scope for a stronger correction towards 4.3564, the Feb 7 high. The 20-day EMA and first resistance is at 4.2940.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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