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CEEMEA FX Price Signal Summary - EURHUF Trend Conditions Remain Bullish

EMERGING MARKETS
  • Trend conditions in EURHUF are unchanged and remain bullish. The latest pullback is considered corrective. The cross has recently traded to a fresh trend high (Mar 12), 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 393.43 the 20-day EMA. It has been tested but remains intact. A clear break of this support would expose the 50-day EMA at 389.95.
  • EURPLN trend conditions are unchanged, the outlook remains bearish and recent weakness reinforces this set-up. The cross on Mar 11, 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 4.3256, the 50-day EMA. The latest bounce is considered corrective. Note that a clear break of the 50-day average would signal scope for a stronger correction and open 4.3564, the Feb 7 high.
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