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CEEMEA FX Price Signal Summary - EURHUF Trend Outlook Remains Bearish

EMERGING MARKETS
  • EURHUF traded sharply higher on Apr 19 and breached the 20-day EMA. The cross has failed to hold on to those gains and has traded lower since Apr 20. Any resumption of the recovery would open 379.79, the 50-day EMA. A clear break of this average is required to signal a stronger reversal. Attention is on the bear trigger at 369.47, the Apr 18 low. Clearance of this level would resume the primary downtrend and open 366.41, the Mar 30 2022 low.
  • EURPLN remains in a downtrend and the cross traded to a fresh cycle low on Tuesday of 4.5657. This confirms a resumption of the downtrend and maintains the bearish sequence of lower lows and lower highs. The focus is on 4.5599 next, the May 30 2022 low. A breach of this support would open 4.5252, the Feb 23 2022 low. Initial firm resistance to watch is 4.6171, the 20-day EMA.

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