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CEEMEA FX Price Signal Summary - EURHUF Trend Condition Remains Bullish

EMERGING MARKETS
  • Thursday's move down in EURHUF appears to have been a correction and the outlook remains bullish. Recent gains confirmed an extension of the current bull cycle. Key resistance and the bull trigger at $385.77, the Dec 18 high, has been cleared. The break opens 389.20, the Oct 9 2023 high, ahead of 390.16, 76.4% of the Sep 28 - Nov 14 bear leg. Initial firm support to watch lies at 381.56, the 50-day EMA.
  • Recent gains in EURPLN resulted in the break of 4.3749, the Jan 3 high. Note that the cross has also traded above the 50-day EMA - a bullish development. The bull trigger is at 4.4124, the Jan 17 high. A break would open 4.4477, the 38.2% retracement of the Sep - Dec bear leg last year. Note that the current bull phase still appears to be a correction. The bear trigger lies at 4.2935, the Dec 13 low. Initial support to watch is at 4.3309, the Jan 9 low.
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EM BulletHomepagemarkets-real-timeCommoditiesBulletEmerging Market News

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