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CEEMEA FX Price Signal Summary - EURPLN Pullback Considered Corrective

EMERGING MARKETS
  • EURHUF has recovered from its recent lows. The outlook is bullish and the recent pullback still appears to be a correction. Support at the 50-day EMA remains intact - at 382.96. 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 and the latest pullback is considered corrective. Moving average studies are in a bull-mode position and this highlights an uptrend. The cross has recently breached 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. Initial firm support is at 4.5811, the 20-day EMA.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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