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CEEMEA FX Price Signal Summary - EURHUF Pierces Its 50-Day EMA

EMERGING MARKETS
  • EURHUF traded lower yesterday. The cross reversed sharply late last week from the all-time high of 434.22 (Oct 13). The sell-off has resulted in a break of the 20-day EMA. This strengthens the bearish significance of the move lower and note that the 50-day EMA at 410.76, has been pierced. This average represents the next key support and a clear break would open 404.22, the Sep 27 low. Last week’s high of 434.22 marks key resistance.
  • EURPLN maintains a bullish tone and the latest pullback is still considered corrective. The cross recently cleared resistance at 4.8515, the Jul 12 high. This confirmed a resumption of the uptrend that started late May and signals scope for 4.90 and 5.0019 further out, the Mar 7 high and a key resistance. The 20-day EMA has been breached, the next support to watch is 4.7903, the Oct 5 low and 4.7721, the 50-day EMA.
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