MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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 -  EURPLN Breaches The 50D EMA

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • EURHUF has recovered from its recent low and the cross is firmer today as it extends the current bull cycle. Price has pierced 397.66, the Sep 10 high and this paves the way for a climb towards 399.21, the Aug 5 high, and 399.75 the Mar 12 high. These two levels represent the next key resistance. Initial support lies at 395.07, the 20-day EMA. Key support has been defined at 392.73, the Sep 23 low. 
  • 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. 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. Clearance of this level would expose 4.2364, the 1.00 projection of the Jun 14 - 25 - Jul 2 price swing.
183 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.
  • EURHUF has recovered from its recent low and the cross is firmer today as it extends the current bull cycle. Price has pierced 397.66, the Sep 10 high and this paves the way for a climb towards 399.21, the Aug 5 high, and 399.75 the Mar 12 high. These two levels represent the next key resistance. Initial support lies at 395.07, the 20-day EMA. Key support has been defined at 392.73, the Sep 23 low. 
  • 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. 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. Clearance of this level would expose 4.2364, the 1.00 projection of the Jun 14 - 25 - Jul 2 price swing.