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CEEMEA FX Price Signal Summary - EURPLN Remains Vulnerable

EMERGING MARKETS
  • EURHUF has pulled back from its recent highs. A move lower is considered corrective, however, price has traded through the 50-day EMA, at 393.72. A continuation lower would signal scope for a deeper retracement, towards 388.82, the Jul 22 low. For bulls, attention is on a key resistance at 399.21, the Aug 5 high. A clear break would reinforce a bullish theme and signal scope for a climb towards 399.75, the Mar 12 high and a key medium-term resistance.
  • EURPLN traded sharply lower Friday and the cross remains closer to its recent lows. The latest move down undermines a recent bullish theme and the breach of a number of short-term support points, suggests scope for an extension lower near-term. Sights are on the 4.2471 key support, Jul 15 low. Initial resistance to watch is 4.2952, the 50-day EMA. A break would signal a potential bullish reversal.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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