Free Trial

CEEMEA FX Price Signal Summary - EURPLN Remains Below Former Trendline Support

EMERGING MARKETS
  • EURHUF is unchanged and continues to trade above its recent lows. The short-term outlook remains bearish following the recent break of support at 405.14, the Oct 21 low. Note that moving average studies appear to be establishing a bearish set-up. If confirmed, this would reinforce a bear theme. The 400.00 handle has been pierced. A clear break of this level would open key support at 394.07, the Sep 8 low. Firm resistance has been defined at 416.03, the Oct 24 high. A break would suggest scope for a stronger recovery instead.
  • EURPLN conditions remain bearish. This follows the recent breach of the 50-day EMA and the break of trendline support drawn from the Jun 8 low. The trendline provided resistance last week. A resumption of weakness would expose 4.6528 next, the Aug 15 low. Initial firm resistance is seen at 4.7848, the Nov 16 high.

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.