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CEEMEA FX Price Signal Summary - EURPLN Approaches Key Support

EMERGING MARKETS
  • EURHUF started the week on a bullish note, bouncing firmly off yesterday's intraday low of 391.77. Bullish conditions remain intact and the latest bear cycle appears to be a correction - for now. Support to watch lies at 392.68, the 50-day EMA. It has been pierced, a clear break of this average is required to undermine the bullish theme and this would open 390.79, the 50.0% retracement of the May 28 - Jun 14 bull leg. Moving average studies are in a bull-mode set-up, highlighting an uptrend. A continuation higher would open 398.85, the Jun 14 high.
  • EURPLN is trading lower this week as it extends the bear cycle that started Jun 14. The move down exposes 4.2471, the May 28 low, and the next key support. A break of this level would strengthen the medium-term bearish condition. For bulls, resistance to watch is 4.3321, the Jul 2 high. Clearance of this hurdle would be a positive development and expose 4.3826, the Jun 14 high. Initial resistance is 4.3041, the 50-day EMA.

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