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EMERGING MARKETS: CEEMEA FX Price Signal Summary -  EURHUF Rally Extends

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • EURHUF continues to appreciate and today’s gains have resulted in a print above 399.21, the Aug 5 high. This strengthens a bullish theme and exposes resistance at 399.75 the Mar 12 high. These two levels represent the next key hurdles for bulls and a break would confirm a resumption of the medium-term uptrend and open 400.90, the 50.0% retracement of the Oct 2022 - Jun 2023 bear leg. A break of this level would expose 402.45, the Mar 20 high. Initial firm support lies at 395.35, the 20-day EMA.  
  • A bearish theme in EURPLN remains intact and the latest recovery appears to be a correction - for now. However, the cross has traded through the 50-day EMA and this signals scope for a stronger short-term recovery. Price is firmer again, today. Resistance to watch is 4.3043, the Sep 12 high. A clear break of this hurdle would instead be bullish and this would open the 4.3200 handle and 4.3309, the Aug 9 high. On the downside, a reversal lower would refocus attention on 4.2471, the Jul 15 low and primary support. Initial firm support is at 4.2772, the 20-day EMA.
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  • EURHUF continues to appreciate and today’s gains have resulted in a print above 399.21, the Aug 5 high. This strengthens a bullish theme and exposes resistance at 399.75 the Mar 12 high. These two levels represent the next key hurdles for bulls and a break would confirm a resumption of the medium-term uptrend and open 400.90, the 50.0% retracement of the Oct 2022 - Jun 2023 bear leg. A break of this level would expose 402.45, the Mar 20 high. Initial firm support lies at 395.35, the 20-day EMA.  
  • A bearish theme in EURPLN remains intact and the latest recovery appears to be a correction - for now. However, the cross has traded through the 50-day EMA and this signals scope for a stronger short-term recovery. Price is firmer again, today. Resistance to watch is 4.3043, the Sep 12 high. A clear break of this hurdle would instead be bullish and this would open the 4.3200 handle and 4.3309, the Aug 9 high. On the downside, a reversal lower would refocus attention on 4.2471, the Jul 15 low and primary support. Initial firm support is at 4.2772, the 20-day EMA.