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CEEMEA FX Price Signal Summary - EURPLN Bulls Eye Trendline Resistance

EMERGING MARKETS
  • EURHUF remains bullish following the recent recovery from 378.24, the Aug 30 low. The cross has breached resistance at 384.71, the Aug 24 high. Furthermore, 391.64, the Aug 21 high, has been pierced. 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. Initial support lies at 384.32, the 20-day EMA.
  • EURPLN has rallied sharply higher this week and traded through the 4.6000 handle. This further reinforces a bullish condition. The cross is approaching a key resistance at 4.6472, a trendline drawn from the Sep 30 2022 high. This is just below 4.4683, the 50.0% retracement of the Sep 2022 - Jul bear leg. These two levels represent the next key resistance points and a break would strengthen the current bullish theme. A breach would open 4.6746, the Apr 12 high. Initial support is yesterday’s low of 4.5668.
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EM BulletHomepagemarkets-real-timeCommoditiesBulletEmerging Market News

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