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CEEMEA FX Price Signal Summary - EURPLN Trendline Support Remains Exposed

EMERGING MARKETS
  • EURHUF is trading closer to its recent lows and maintains a softer tone. This follows the sharp reversal on Oct 13 / 14 from the all-time high of 434.22 (Oct 13). The sell-off resulted in a break of the 20-day EMA and note that the 50-day EMA at 410.85, has been pierced. This average represents a key support and a clear break, would open 404.22, the Sep 27 low. 434.22, the Oct 13 high, marks key resistance.
  • The recent pullback in EURPLN is still considered corrective and the broader trend condition remains bullish. However, the cross is trading closer to its recent lows and has breached a number of important short-term support levels. The 50-day EMA at 4.7737, has also been pierced. A continuation lower would expose 4.7443, trendline support drawn from the Jun 8 low. Key resistance and the bull trigger is at 4.8980, the Sep 30 high. Initial resistance is seen at 4.8549, the Oct 17 high.
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