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CEEMEA FX Price Signal Summary - EURPLN Downtrend Accelerates

EMERGING MARKETS
  • EURHUF trend conditions remain bearish and the cross traded to fresh cycle low of 368.33 yesterday. Attention is on the bear trigger at 369.47, the Apr 18 low, which has been pierced. A clear break would resume the primary downtrend and open 366.41, the Mar 30 2022 low. Key resistance to watch is at 377.36, the 50-day EMA.
  • EURPLN is on the move again today and the cross has once again traded to a fresh cycle low. The downtrend appears to be accelerating. The move lower reinforces bearish conditions and maintains the price sequence of lower lows and lower highs. The 4.50 handle has been cleared and 4.4826, the Feb 16 2022 low, has been pierced. This opens 4.4360, the Jun 7 2021 low. Initial firm resistance to watch is at 4.5740, the 20-day EMA.

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