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CEEMEA FX Price Signal Summary - EURPLN Remains Below Key Resistance

EMERGING MARKETS
  • EURHUF is trading closer to its recent lows and recent gains are considered corrective. The trend outlook still appears bearish, following the reversal from the Dec 12, 420.46 high. This signals scope for a deeper pullback towards 391.55, the Aug 12 low. For bulls, initial firm resistance is at 403.62, the 50-day EMA. A clear break would be a positive development.
  • The EURPLN outlook still appears bearish. The cross breached support at 4.6528 in December, the Aug 15 low. This breach highlights a resumption of the downtrend and has opened 4.6262 next, the Jun 21 low, ahead of the 4.6000 handle. Most recently, the cross has recovered from its lows but remains below resistance and short-term gains are considered corrective. Resistance to watch is 4.7220, the Dec 6 high. A break of this hurdle would suggest potential for a stronger recovery and open 4.7500.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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