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CEEMEA FX Price Signal Summary - EURPLN Bear Threat Remains Present

EMERGING MARKETS
  • A bearish theme in EURHUF remains intact following recent weakness. Price last week breached support at 378.24, the Aug 30 low. A clear break of this level would strengthen a bearish theme and open 373.98, the 76.4% retracement of the Jun 12 - Aug 3 bull leg. Firm resistance has been defined at 386.29, the Oct 25 high. Initial resistance is at 381.32, the 20-day EMA.
  • EURPLN is unchanged and remains vulnerable following the Sep 12 - Oct 17 sharp sell-off. Recent short-term gains appear to have been a correction. The recent break of 4.5000 signals scope for an extension lower towards 4.3986, the Jul 31 low and the next major support. A break of this level would open 4.3711, the Jun 3 2020 low. Resistance is at 4.4954, the 50-day EMA.
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