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CEEMEA FX Price Signal Summary - EURPLN Tests Key Support

EMERGING MARKETS
  • EURHUF bearish conditions remain intact. The cross traded lower Friday to confirm a resumption of the current downtrend and price is trading at its recent lows. The move down signals scope for an extension towards 382.34, the Feb 1 low, ahead of the 380.00 handle. Note that moving average studies have recently crossed into bear-mode position, highlighting a downtrend. Initial firm resistance is at 389.30, the 50-day EMA. The 20-day EMA is at 387.40 today.
  • EURPLN is trading at its recent lows and a bear cycle that started Apr 16, remains in play. The cross is also challenging key support at 4.2527, the Apr 9 low. A clear break of this level would confirm a resumption of the medium-term bear trend and open 4.2131, the 1.00 projection of the Jan 17 - Apr 9 - Apr 16 price swing. Firm resistance is at 4.2949, the 50-day EMA. Initial resistance is at the 20-day EMA, at 4.2777.
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