MNI: PBOC Net Injects CNY25.7 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1897 Thurs; -2.25% Y/Y

MNI: PBOC Net Drains CNY195.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1868 Weds; -2.18% Y/Y

MNI: JAPAN NOV SERVICES PPI +3.0% Y/Y; OCT UNREV +2.9%

MNI China Daily Summary: Tuesday, December 24

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI: US DEC PHILADELPHIA FED NONMFG INDEX -6

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURHUF Trend Points North

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • A bull cycle in EURHUF remains intact and the cross is trading closer to its recent highs. The trend is overbought and a deeper retracement would allow this set-up to unwind. Initial support to watch is 406.28, the 20-day EMA. It has been pierced, a clear breach of the EMA would signal scope for a deeper retracement, potentially towards the 50-day EMA, at 402.44. Key resistance has been defined at 412.35, the Nov 6 high. Clearance of this level would confirm a resumption of the uptrend and open 415.92, the Dec 13 2022 high.
  • The latest steep pullback in EURPLN appears corrective. However, the 50-day EMA at 4.3186 today, has again been pierced. A clear break of this average would signal scope for a deeper retracement, towards 4.2867, the Oct 14 low. A reversal higher would reinforce the bull theme and refocus attention on key short-term resistance at 4.3758, the Nov 6 high. Clearance of this level would expose 4.3826, the Jun 14 high and a key medium-term resistance.
168 words

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.
  • A bull cycle in EURHUF remains intact and the cross is trading closer to its recent highs. The trend is overbought and a deeper retracement would allow this set-up to unwind. Initial support to watch is 406.28, the 20-day EMA. It has been pierced, a clear breach of the EMA would signal scope for a deeper retracement, potentially towards the 50-day EMA, at 402.44. Key resistance has been defined at 412.35, the Nov 6 high. Clearance of this level would confirm a resumption of the uptrend and open 415.92, the Dec 13 2022 high.
  • The latest steep pullback in EURPLN appears corrective. However, the 50-day EMA at 4.3186 today, has again been pierced. A clear break of this average would signal scope for a deeper retracement, towards 4.2867, the Oct 14 low. A reversal higher would reinforce the bull theme and refocus attention on key short-term resistance at 4.3758, the Nov 6 high. Clearance of this level would expose 4.3826, the Jun 14 high and a key medium-term resistance.