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CEEMEA FX Price Signal Summary - EURPLN Bullish Conditions Improve

EMERGING MARKETS
  • EURHUF is trading higher again today as it extends the recovery from last week’s low of 378.24 on Aug 30. The cross has breached resistance at 384.71, the Aug 24 high. This suggests scope for a climb towards 391.64, the Aug 21 high. Clearance of this level would open 394.67, the Aug 3 high and a key resistance. On the downside, the short-term bear trigger has been defined at 378.24. A break would resume bearish activity and open 377.93 and potentially 373.98, the 61.8% and 76.4% retracement points of the move higher between Jun 12 - Aug 3.
  • A short-term bullish condition in EURPLN has been established and the cross is trading higher today. Price has pierced a key resistance at 4.5040, the Jul 6 high. A clear break of this level would strengthen the bullish condition and open 4.5480, the Jun 1 high. Initial firm support is at 4.5551, the Aug 21 low. A clear break of this support would instead signal a reversal and expose 4.3986, the Jul 31 low.

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