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CEEMEA FX Price Signal Summary - EURPLN Gains Considered Corrective

EMERGING MARKETS
  • Trend conditions in EURHUF remain bullish. Yesterday's climb resulted in a break of resistance at 389.26, the Jul 7 high. This strengthens the current bullish theme and signals scope for a climb towards 394.22, the 76.4% retracement of the Mar 20 - Jun 12 low. Support to watch lies at 380.03, the 20-day EMA. A short-term pullback would be considered corrective.
  • EURPLN trend conditions remain bearish and recent short-term gains are considered corrective. The bear trigger at 4.4138, the Jul 4 low, has recently been breached and the 4.40 handle has also been tested. An extension lower would open 4.3822, the Aug 28 2020 low. The 50-day EMA, at 4.4690, is the resistance to watch.

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