Free Trial

CEEMEA FX Price Signal Summary - EURHUF Remains Vulnerable

  • The recent retracement EURHUF has resulted in a move below both the 20- and 50-day EMAs. This signals scope for a continuation towards 381.12, the Mar 13 low. A clear break of this level would expose key support at 372.38, the Mar 1 low. Key resistance has been defined at 402.42, the Mar 20 high. This level is the bull trigger.
  • EURPLN is unchanged and remains in a broad consolidation mode. The cross still appears vulnerable despite the bounce from 4.6620, the Mar 1 low. Weakness in the latter half of February, signals scope for a test of support at 4.6573, the Jan 4 low. Clearance of this level would strengthen a bearish argument and open 4.6270, the Dec 26 low and the next key support. Initial firm resistance to watch is 4.7304, 50.0% of the Feb 14 - Mar 1 bear leg.

To read the full story



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.