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CEEMEA FX Price Signal Summary - EURPLN Trend Conditions Remains Bearish

EMERGING MARKETS
  • EURHUF continues to trade above recent lows. The outlook remains bearish following 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 - this reinforces the current outlook. The 400.00 handle has been pierced. A clear break of this level would open key support at 394.07, the Sep 8 low. Firm resistance has been defined at 416.03, the Oct 24 high.
  • EURPLN is trading in a volatile manner. A bearish condition remains intact following the recent breach of the 50-day EMA and the break of 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 4.7848, today’s intraday high.

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