Free Trial

CEEMEA FX Price Signal Summary - Watch Resistance In EURHUF

EMERGING MARKETS
  • The short-term outlook in EURHUF remains bearish, however, the cross has traded higher today and attention turns to resistance at 416.03, the Oct 24 high. A break of this hurdle would be bullish and suggest scope for a stronger recovery instead. This would open 420.00 and above. On the downside, initial support is at 404.39, yesterday’s low. A break of this level is required to strengthen a bearish case and would expose support at 398.30, the Nov 10 low.
  • EURPLN conditions remain bearish. This follows the recent breach of the 50-day EMA and the break of trendline support drawn from the Jun 8 low. The trendline provided resistance last week. A resumption of weakness would expose 4.6528 next, the Aug 15 low. Initial firm resistance is seen at 4.7848, the Nov 16 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.