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CEEMEA FX Price Signal Summary - EURPLN Pullback Extends, Watch The 50-Day EMA

EMERGING MARKETS
  • EURHUF maintains a softer tone. The cross reversed sharply late last week from the all-time high of 434.22 (Oct 13). The sell-off resulted in a break of the 20-day EMA. This strengthens the bearish significance of the move lower and note that the 50-day EMA at 410.87, has been pierced. This average represents the next key support and a clear break would open 404.22, the Sep 27 low. Last week’s high of 434.22 marks key resistance.
  • EURPLN is trading closer to its recent lows. The recent pullback is still considered corrective and broader trend conditions remain bullish. The cross recently cleared resistance at 4.8515, the Jul 12 high. This confirmed a resumption of the uptrend that started late May and signals scope for 4.90 and 5.0019 further out, the Mar 7 high and a key resistance. Support at 4.7903, the Oct 5 low has been breached. The 50-day EMA at 4.7726, is the next key support to watch.
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