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CEEMEA FX Price Signal Summary - EURPLN Remains Soft

EMERGING MARKETS
  • EURHUF is softer but remains inside its recent range. The latest period of consolidation appears to be a bear flag formation. If correct, it highlights a bearish theme and signals scope for a continuation of the reversal that occurred on Oct 13 / 14 from the all-time high of 434.22 (Oct 13). The 50-day EMA at 410.73, has been breached. This average represents a key support and a clear break would open 404.22, the Sep 27 low. 434.22, the Oct 13 high, is the key resistance. Initial resistance is at 416.03, Oct 24 high.
  • EURPLN maintains a bearish tone. Price has traded lower this week, reinforcing the current bearish cycle. The cross has also cleared the 50-day EMA and cleared trendline support drawn from the Jun 8 low. The trendline intersects at 4.7572. A continuation lower would expose 4.6888 next, the Sep 12 low. Initial firm resistance is seen at 4.7932, the Oct 24 high.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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