EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURPLN Bull Cycle Extends
Nov-01 11:44
- A bull cycle in EURHUF remains intact and this week’s gains reinforce current conditions. The recent breach of 402.38, the Oct 7 high, confirmed a resumption of the uptrend. 408.77, the 61.8% retracement of the Oct 2022 - Jun 2023 bear leg, has also been cleared. This opens 415.92, the Dec 13 2022 high, ahead of 418.50, the 76.4% retracement point. Initial firm support lies at 402.53, the 20-day EMA.
- EURPLN maintains a firmer tone and is trading higher again, today as the cross extends the bull cycle that started on Sep 25. The cross has traded through a key resistance at 4.3309, the Aug 9 high, and breached 4.3506, the 76.4% retracement of the Jun 14 - Jul 15 bear leg. The clear breach of this price point opens 4.3826, the Jun 14 high. Initial firm support is at 4.3245, the 20-day EMA.
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