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CEEMEA FX Price Signal Summary - EURPLN Trades Through Trendline Support

EMERGING MARKETS
  • EURHUF remains in consolidation mode and the cross is trading closer to its recent lows. A bearish threat is present following the reversal on Oct 13 / 14 from the all-time high of 434.22 (Oct 13). This resulted in a break of the 20-day EMA and note that the 50-day EMA at 411.01, has been pierced. This average represents a key support and a clear break would open 404.22, the Sep 27 low. 434.22, the Oct 13 high, is the key resistance. Initial resistance is at 419.25, Oct 17 high.
  • EURPLN traded lower yesterday and the move has strengthened the current bearish cycle. The cross has traded below the 50-day EMA and below trendline support drawn from the Jun 8 low. The trendline intersects at 4.7498. A continuation lower would expose 4.7032 next, the Sep 19 low. Initial firm resistance is seen at 4.8549, the Oct 17 high.
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