Free Trial

CEEMEA FX Price Signal Summary - EURPLN Trend Needle Points South

EMERGING MARKETS
  • EURHUF has recently tested resistance at the 50-day EMA and this exposes 380.29, the Apr 20 high and a key resistance. A clear break of this level would suggest scope for a stronger recovery. The primary trend direction remains down, a breach of 368.05, May 16 low and bear trigger, would confirm a resumption of the trend and open 366.41, the Mar 30 2022 low.
  • EURPLN trend conditions remain bearish and the cross has traded to a fresh cycle low of 4.4767 this week. This confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. A continuation lower would open 4.4360, the Jun 7 2021 low. Initial firm resistance to watch is at 4.5418, the 20-day EMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.