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CEEMEA FX Price Signal Summary - EURHUF Support Remains Intact

EMERGING MARKETS
  • EURHUF bullish conditions remain intact and last Tuesday’s gains reinforce this theme. The cross traded to a fresh trend high, maintaining the bullish price sequence of higher highs and higher lows. This signals scope for an extension towards the 400.00 handle and key resistance at 402.45, the Mar 20 2023 high. Initial firm support lies at 392.95, the 20-day EMA. It has been tested but remains intact. A clear break of it would expose the 50-day EMA at 389.18.
  • EURPLN trend conditions are unchanged, they remain bearish and last Monday’s sell-off reinforced this set-up. The cross has cleared key support and the bear trigger at 4.2935, the Dec 13 low. This confirms a resumption of the downtrend that started in September last year and opens 4.2371, the Feb 14 2020 low. Initial firm resistance is seen at 4.3278, the 50-day EMA. The latest bounce is considered corrective.

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