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CEEMEA FX Price Signal Summary - EURHUF Recovery Extends

EMERGING MARKETS
  • EURHUF has continued to recover and this has resulted in a print above the 50-day EMA - at 380.74. A clear break of the average would undermine a recent bearish theme and signal scope for a climb towards 384.10, the early January high. Key resistance and a bull trigger is at $385.77, the Dec 18 high. On the downside, a break below 377.11, the Jan 8 low, would reinstate a bearish theme.
  • EURPLN is trading higher this week and in the process has breached resistance at 4.3749, the Jan 3 high. Note that the cross has also cleared the 50-day EMA. This highlights a stronger short-term bull cycle and signals scope for a continuation higher near-term. The next resistance is at 4.4096, the Oct 17 low. It has been pierced, a clear break of this level would open 4.4477, the 38.2% retracement of the Sep - Dec bear leg last year. Note that the current bull phase appears to be a correction. The bear trigger lies at 4.2935, the Dec 13 low. Initial support is at 4.3309, the Jan 9 low.
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EM BulletHomepagemarkets-real-timeCommoditiesBulletEmerging Market News

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