November 14, 2022 11:56 GMT
CEEMEA FX Price Signal Summary - EURPLN Trend Conditions Remains Bearish
- EURHUF is consolidating. The outlook remains bearish and the cross is trading closer to its recent lows. A bear theme follows the recent break of support at 405.14, the Oct 21 low. Note that moving average studies appear to be establishing a bearish set-up and this reinforces the current outlook. The 400.00 handle has been pierced. A clear break would open key support at 394.07, the Sep 8 low. Firm resistance has been defined at 416.03, the Oct 24 high.
- EURPLN maintains a bearish tone and the ross is trading at its recent lows. Price has recently cleared the 50-day EMA and breached trendline support drawn from the Jun 8 low. A resumption of weakness would expose 4.6528 next, the Aug 15 low. Initial firm resistance is seen at 4.7444, the 50-day EMA.