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CEEMEA FX Price Signal Summary - EURPLN Bull Cycle Remains In Play

EMERGING MARKETS
  • Recent gains in EURHUF highlights a strengthening bullish theme and suggests that the corrective pullback between Mar 12 - Apr 5 is potentially over. A continuation higher would open the key resistance and bull trigger at 399.75, the Mar 12 high. Initial resistance is at 395.77, the Apr 2 high. On the downside, 388.34, the Apr 5 low, is required to reinstate a bearish theme.
  • EURPLN has reversed higher and the recovery accelerated yesterday. This week’s gains have resulted in a break of resistance at 4.3268, the Mar 20 high. Note too that the cross is through both the 20- and 50-day EMAs. The breach highlights a short-term reversal and signals scope for a climb towards the 4.40 handle. Initial support lies at 4.3097, the 50-day EMA.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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