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CEEMEA FX Price Signal Summary - EURPLN Bears Remain In The Driver’s Seat

EMERGING MARKETS
  • EURHUF traded sharply higher on Apr 19 and breached the 20-day EMA. A resumption of gains would open 380.77, the 50-day EMA. Note that recent gains are considered corrective - a clear break of the 50-day EMA is required to signal a stronger reversal. The cross has pulled back from recent highs and 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 has traded to fresh cycle lows this week. Last week’s move lower resulted in a breach of 4.6270, the Dec 26 low, reinforcing bearish conditions and this confirmed a resumption of the broader downtrend. The focus is on 4.5599 next, the May 30 2022 low. Initial firm resistance to watch is 4.6302, the 20-day EMA.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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