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CEEMEA FX Price Signal Summary - EURPLN Trend Outlook Remains Bearish

EMERGING MARKETS
  • EURHUF is trading closer to its recent lows. Key short-term support at 378.24, the Aug 30 low, has been pierced. A clear break of this level would strengthen a bearish theme and open; 376.78, the Jul 25 low and 373.98, the 76.4% retracement of the Jun 12 - Aug 3 bull leg. Firm resistance has been defined at 386.29, the Oct 25 high.
  • EURPLN is unchanged and continues to consolidate. The cross remains vulnerable following the Sep 12 - Oct 17 sharp sell-off and recent short-term gains are considered corrective - for now. A move higher is allowing an oversold condition to unwind. The recent break of 4.5000 signals scope for an extension towards 4.3986, the Jul 31 low and the next major support. A break of this level would open 4.3711, the Jun 3 2020 low. Resistance is at 4.5059, the 50-day EMA.
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