September 25, 2024 11:01 GMT
EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURPLN Bear Threat
EMERGING MARKETS
- EURHUF traded higher Monday but - for now - remains below its recent September highs. The 50-day EMA, at 394.05, has been pierced and a continuation lower would expose key near-term support at 391.93, the Aug 21 low. Clearance of this level would reinstate a bearish threat and open 390.06, the Jul 26 low. On the upside, a stronger reversal higher would refocus attention on key resistance at 399.21, the Aug 5 high.
- A bearish theme in EURPLN remains intact and the cross traded lower yesterday. Key near-term support at 4.2614, the Aug 16 low, has been cleared. The break of this level exposes 4.2471, the Jul 15 low and primary support. Clearance of this level would expose 4.2364, the 1.00 projection of the Jun 14 - 25 - Jul 2 price swing. On the upside, a breach of 4.3043, the Sep 12 high, would instead be bullish and this would open the 4.3200 handle and 4.3309, the Aug 9 high.
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