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CEEMEA FX Price Signal Summary - EURPLN Outlook Remains Bullish

EMERGING MARKETS
  • EURHUF continues to trade at its recent lows. The outlook is bullish following the recovery from 378.24, the Aug 30 low, and the latest pullback still appears to be a correction. The support to watch lies at 382.65, the 50-day EMA. The cross has recently pierced resistance at 391.64, the Aug 21 high. A clear break of this level would open 394.67, the Aug 3 high and a key resistance. On the downside, a move through the 50-day EMA would be a bearish development and instead expose 378.24.
  • EURPLN remains in a bull cycle following the recent rally. Key resistance at 4.4600, a trendline drawn from the Sep 30 2022 high, has been cleared. This was followed by a move through 4.4683, the 50.0% retracement of the Sep 2022 - Jul bear leg. The break strengthens the current bullish theme and opens 4.7072, the 61.8% retracement point. The pullback from 4.6971, the Sep 12 high is considered corrective - for now. Initial firm support is at 4.5951, the Sep 8 low.

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