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CEEMEA FX Price Signal Summary - EURPLN Trend Needle Still Points South

  • EURHUF maintains a softer tone and the cross is trading lower today. The current bear leg has resulted in a move below both the 20- and 50-day EMAs. Note too that 381.12, the Mar 13 low, has been cleared and this signals scope for weakness towards a key support at 372.38, the Mar 1 low. Key resistance has been defined at 402.45, the Mar 20 high. This level is the bull trigger. Initial resistance is seen at 389.50, the Mar 24 high.
  • EURPLN remains in consolidation mode. A bear threat is present despite continuing to trade above 4.6620, the Mar 1 low. Weakness in the latter half of February, signals scope for a test of support at 4.6573, the Jan 4 low. Clearance of this level would strengthen a bearish argument and open 4.6270, the Dec 26 low and the next key support. Initial firm resistance to watch is 4.7304, 50.0% of the Feb 14 - Mar 1 bear leg.

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