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EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURHUF Bear Threat   

EMERGING MARKETS
  • EURHUF has pulled back from its recent highs and the cross traded lower yesterday, breaching short-term support. The break lower highlights a breach of the 50-day EMA and this undermines the recent bullish theme. A continuation lower would open 390.06 next, the Jul 26 low. Initial resistance is at 396.06, the Aug 16 high. Clearance of this level would instead signal a reversal and expose the more important resistance at 399.21, the Aug 5 high.                                              
  • EURPLN traded sharply lower on Aug 16 but has since recovered. The latest move down undermines a recent bullish theme and the breach of a number of short-term support points, suggests scope for an extension lower near-term. Sights are on the 4.2471 key support, the Jul 15 low. The near-term bear trigger is 4.2614, the Aug 16 low. Initial resistance to watch is 4.2929 the 50-day EMA. A break would signal a potential reversal and expose 4.3309, the Aug 9 high.

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