Free Trial

CEEMEA FX Price Signal Summary - EURPLN Heads South

EMERGING MARKETS
  • EURHUF is consolidating in a tight range. The outlook is unchanged and the trend condition remains bearish. The cross traded to a fresh cycle low on Tuesday. A clear break of 368.05, the May 16 low and the bear trigger, would confirm a resumption of the downtrend and open 366.41, the Mar 30 2022 low and the 360.00 handle further out. Resistance at 374.12, the 50-day EMA, remains intact. A clear break of it would expose 380.29, the Apr 20 high and a key resistance.
  • EURPLN trend conditions remain bearish and the cross has traded to fresh cycle lows this week. This once again confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. A continuation would open 4.4360, the Jun 7 2021 low. Resistance at the 20-day EMA has recently been pierced. The 50-day EMA intersects at 4.5617. A break of this average would alter the picture.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.