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CEEMEA FX Price Signal Summary - EURPLN Trend Outlook Remains Bullish

EMERGING MARKETS
  • EURHUF is unchanged and the cross continues to trade at its recent lows. The outlook is bullish following the recovery from 378.24, the Aug 30 low, and the latest pullback still appears to be a correction. The support to watch lies at 382.69, the 50-day EMA. The cross has recently pierced resistance at 391.64, the Aug 21 high. A clear break of this level would open 394.67, the Aug 3 high and a key resistance. On the downside, a move through the 50-day EMA would be a bearish development and instead expose 378.24.
  • EURPLN remains in a bull cycle following the recent rally. Key resistance at 4.6390, a trendline drawn from the Sep 30 2022 high, has been cleared. The cross has also breached 4.4683, the 50.0% retracement of the Sep 2022 - Jul bear leg. The break strengthens the current bullish theme and opens 4.7072, the 61.8% retracement point. The recent pullback from 4.6971, the Sep 12 high is considered corrective - for now. Initial firm support is at 4.5951, the Sep 8 low.
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