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CEEMEA FX Price Signal Summary - Key Support In EURHUF Lies At The 50-Day EMA

  • Trend conditions in EURHUF remain bullish and the recent pullback appears to be a correction. The move lower that started Mar 8, has allowed an overbought trend condition to unwind. The 50-day EMA represents the next important support and intersects at 380.54. A resumption of gains would refocus attention on 394.67, the Aug 3 high. Clearance of this level would resume the uptrend.
  • EURPLN trend conditions remain bearish, however, Tuesday’s gains signal scope for a stronger short-term corrective bounce - despite today’s move lower. The cross has traded through the 50-day EMA - at 4.4630 - which has provided a firm resistance recently. The move higher exposes 4.5040, the Jul 6 high and a key resistance. On the downside, key support and the bear trigger lies at 4.3986, the Jul 31 low. A breach would resume the medium-term downtrend.

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