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CEEMEA FX Price Signal Summary - EURPLN Remains Vulnerable

EMERGING MARKETS
  • EURHUF trend conditions remain bearish. Moving average studies are in a bear-mode position and price maintains a sequence of lower lows and lower highs. The focus is on 377.15, the Feb 14 low. This level was pierced yesterday, a clear break of it would confirm a resumption of the downtrend and open 376.06, the 1.236 projection of the Oct 13 - Nov 10 - Dec 12 price swing. The 1.382 projection lies at 370.82. Initial resistance is at the 20-day EMA that intersects at 384.40.
  • EURPLN continues to trade at its recent lows. An extension of the current bear cycle would signal scope for a test of support at 4.6787, the Feb 2 low. Clearance of this level would strengthen a bearish argument. Initial resistance to watch is at 4.7654, the Feb 22 high. A break would signal a reversal to bullish and expose key resistance at 4.7987, the Feb 14 high.
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EM BulletHomepagemarkets-real-timeCommoditiesBulletEmerging Market News

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