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CEEMEA FX Price Signal Summary - EURPLN Resistance At The 50-Day EMA Remains Intact

EMERGING MARKETS
  • EURHUF is trading at its recent lows. The latest pullback cancels a recent bullish theme and instead highlights potential for a deeper pullback near-term. The breach of support at 378.22, the Dec 14 low has exposed key support at 375.62, the Nov 14 low. Initial resistance is at 381.40, the 50-day EMA.
  • A downtrend in EURPLN remains intact and the recent recovery is considered corrective. The cross traded to a fresh trend low on Dec 13 and confirmed a resumption of the downtrend. This signals scope for an extension towards 4.2870, the Mar 4 2020 low. Clearance of this level would open 4.2650, the Feb 19 2020 low. Resistance at the 50-day EMA, at 4.3734, remains intact. A clear break of the average is required to instead signal scope for a stronger bull cycle.

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