November 17, 2022 12:03 GMT
CEEMEA FX Price Signal Summary - EURPLN Remains Below Resistance
- EURHUF continues to trade above 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 - this reinforces the current outlook. 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 near-term instead.
- EURPLN traded in a volatile manner yesterday. A bearish condition remains intact following the recent breach of the 50-day EMA and the break of trendline support drawn from the Jun 8 low. A resumption of weakness would expose 4.6528 next, the Aug 15 low. Initial firm resistance is seen at 4.7848, Wednesday’s intraday high.