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CEEMEA FX Price Signal Summary - EURPLN Resistance Stays Intact

EMERGING MARKETS
  • Trend conditions in EURHUF remain bullish and the recent pullback is considered corrective. The cross has recently traded to a fresh trend high (Mar 12), maintaining the bullish price sequence of higher highs and higher lows. This signals scope for an extension towards the 400.00 handle and key resistance at 402.45, the Mar 20 2023 high. Initial firm support lies at 394.31, the 20-day EMA. It has been tested but remains intact. A clear break of this support would expose the 50-day EMA at 390.87.
  • EURPLN is in consolidation mode. Trend conditions are unchanged, the outlook remains bearish and recent weakness reinforces this set-up. The cross on Mar 11, cleared key support and the bear trigger at 4.2935, the Dec 13 low. This confirmed a resumption of the downtrend that started in September last year and opens 4.2371, the Feb 14 2020 low. Initial firm resistance is seen at 4.3240, the 50-day EMA. A clear break of the 50-day average would signal scope for a stronger correction and open 4.3564, the Feb 7 high.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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