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CEEMEA FX Price Signal Summary - EURPLN Trend Outlook Remains Bearish

EMERGING MARKETS
  • EURHUF has recovered from its recent lows. Despite this bounce, the trend condition remains bearish and short-term gains are considered corrective. The cross traded to a fresh cycle low last week and pierced 368.05, the May 16 low and bear trigger. A clear break of this level would confirm a resumption of the downtrend and open 366.41, the Mar 30 2022 low and the 360.00 handle further out. Resistance to watch is at 373.55, the 50-day EMA. A clear break of the average would expose 380.29, the Apr 20 high and a key resistance.
  • EURPLN trend conditions remain bearish and the cross traded to a fresh cycle low on Monday. This once again confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. A continuation would open the 4.40 handle next. The 50-day EMA intersects at 4.5500. A break of this average would alter the picture.
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