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CEEMEA FX Price Signal Summary - EURPLN Bear Threat Remains Present

EMERGING MARKETS
  • EURHUF is unchanged. Bullish conditions remain intact and the latest pullback appears to be a correction. Support to watch lies at 392.51, the 50-day EMA. A clear break of this average is required to undermine the bullish theme. Moving average studies are in a bull-mode set-up, highlighting an uptrend. Recent gains resulted in a print above 395.73, 76.4% of the Mar 12 - May 28 bear leg. This signals scope for an extension towards 399.75 next, the Mar 12 high and a key resistance.
  • EURPLN is trading lower today and the cross remains vulnerable following the reversal from the Jun 14 high. A continuation lower would strengthen a bearish threat and expose 4.2791, 76.4% of the May 28 - Jun 14 rally. For bulls, resistance to watch is 4.3321, Tuesday’s high. Clearance of this level would be a positive development and expose 4.3826, the Jun 14 high.

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