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CEEMEA FX Price Signal Summary: EURHUF Bull Cycle Extends

EMERGING MARKETS
  • EURHUF trend conditions remain bullish and the cross is trading higher again today. Yesterday’s gains confirmed a resumption of the uptrend - resistance at 404.76, the Jun 27 high has been cleared. This week’s gains also confirm an extension of the bullish price sequence of higher highs and higher lows and sets the scene for a climb towards 415.17, the 1.00 projection of the Jan 13 - Mar 7 - 30 price swing . On the downside, key trend support has been defined at 393.25, Jun 29 low. The 20-day EMA, at 398.15, marks an initial support.
  • EURPLN is trading higher again today as the cross extends its current bull cycle. This week’s climb has resulted in a clear break of; 4.7446, the Jun 16 high and 4.7279, the Apr 26 high. This signals scope for an extension towards 4.8331, 61.8% retracement of the Mar 7 - May 30 bear leg. Key support has been defined at 4.6262, the Jun 21 low. The 20-day EMA, at 4.6789, marks the initial support.
  • USDZAR maintains a bullish tone and continues to appreciate. Major resistance at 16.3668, the Nov 26 2021 high, has recently been cleared. The break confirms a resumption of a broader uptrend that started in June 2021. This sets the scene for an extension higher towards 16.50 next while further out, there is scope for a climb towards 16.9764, the 1.236 projection of the recent Jun 9 - 13 - 15 price swing. Initial firm support is at 16.0577, the 20-day EMA.
  • USDTRY trend conditions remain bullish despite the recent pullback and the pair is trading high again today. Key short-term support has been defined at 16.0956, the Jun 27 low, and lies just below the 50-day EMA at 16.3177. A break of these two support levels is required to signal scope for a stronger bearish reversal. On the upside, attention is on the bull trigger at 17.4446, the Jun 22 high.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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