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CEEMEA FX Price Signal Summary - EURPLN Bull Cycle Accelerates

EMERGING MARKETS
  • EURHUF is trading higher today as it extends the current bull cycle. The recent rally reinforces a bullish theme and has resulted in a break of a number of important resistance points. 395.73, 76.4% of the Mar 12 - May 28 bear leg, has been cleared. This signals scope for an extension towards 399.75 next, the Mar 12 high and a key resistance. Initial firm support is seen at 390.98, the 20-day EMA.
  • EURPLN has once again rallied sharply higher today as the bull cycle accelerates. Today’s gains have resulted in a print above 4.3728, the Apr 16 high. A clear break of this hurdle would strengthen a bullish theme and signal scope for a climb towards 4.3933 next, the Jan 24 high. Clearance of this level would expose 4.4124, the Jan 17 high. On the downside, initial firm support is seen at 4.3015, the 20-day EMA.

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