Free Trial

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

EMERGING MARKETS
  • EURHUF bullish conditions remain intact and yesterday’s gains reinforce this theme. The cross has traded through last week’s peak and delivered a fresh trend high, maintaining the bullish price sequence of higher highs and higher lows. The move higher signals scope for an extension towards the 400.00 handle and key resistance at 402.45, the Mar 20 2023 high. Initial firm support lies at 392.30, the 20-day EMA.
  • Trend conditions in EURPLN are unchanged, they remain bearish and Monday’s sell-off reinforced this set-up. The cross has cleared key support and the bear trigger at 4.2935, the Dec 13 low. This confirms a resumption of the downtrend that started in September last year and opens 4.2371, the Feb 14 2020 low. Initial firm resistance is seen at 4.3321, the 50-day EMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.