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EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURPLN Bear Cycle Intact

EMERGING MARKETS
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  • The trend condition in EURHUF remains bullish. Initial support to watch is 408.06, 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 404.21. Key resistance at 412.35, the Nov 6 high, has been pierced. 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 cross has breached the 50-day EMA, at 4.3201. The clear break of the average signals scope for a deeper retracement, towards 4.2867, the Oct 14 low. On the upside, a stronger reversal higher would instead 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. Initial resistance to watch is 4.3528, the Nov 21 high.
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  • The trend condition in EURHUF remains bullish. Initial support to watch is 408.06, 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 404.21. Key resistance at 412.35, the Nov 6 high, has been pierced. 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 cross has breached the 50-day EMA, at 4.3201. The clear break of the average signals scope for a deeper retracement, towards 4.2867, the Oct 14 low. On the upside, a stronger reversal higher would instead 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. Initial resistance to watch is 4.3528, the Nov 21 high.