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EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURPLN Bear Threat Is Present

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • The EURHUF trend condition is unchanged, it remains bullish and the cross is trading closer to its recent highs. Resistance at 415.54, the Nov 29 high, has been pierced. A clear break of this hurdle would confirm a resumption of the uptrend, paving the way for gains towards 418.50, the 76.4% retracement of the Oct ‘22 - Jun ‘23 bear cycle.  Support to watch is 409.47, the 50-day EMA. A clear break of this average would signal scope for a deeper pullback - towards 405.52, the Nov 15 low. The 20-day EMA is at 411.88. 
  • A bear cycle in EURPLN remains in play. The cross continues to trade below the 50-day EMA and is also trading closer to its recent lows. Recent activity has resulted in a print below 4.2520, the Sep 25 low and a key support. A clear breach of this level would open 4.2471, the May 28 low. Further out, scope is seen for an extension towards the 4.2000 handle. On the upside, resistance to watch is 4.2880, the 50-day EMA.
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  • The EURHUF trend condition is unchanged, it remains bullish and the cross is trading closer to its recent highs. Resistance at 415.54, the Nov 29 high, has been pierced. A clear break of this hurdle would confirm a resumption of the uptrend, paving the way for gains towards 418.50, the 76.4% retracement of the Oct ‘22 - Jun ‘23 bear cycle.  Support to watch is 409.47, the 50-day EMA. A clear break of this average would signal scope for a deeper pullback - towards 405.52, the Nov 15 low. The 20-day EMA is at 411.88. 
  • A bear cycle in EURPLN remains in play. The cross continues to trade below the 50-day EMA and is also trading closer to its recent lows. Recent activity has resulted in a print below 4.2520, the Sep 25 low and a key support. A clear breach of this level would open 4.2471, the May 28 low. Further out, scope is seen for an extension towards the 4.2000 handle. On the upside, resistance to watch is 4.2880, the 50-day EMA.