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CEEMEA FX Price Signal Summary: EURHUF Clears Its Fibonacci Retracement

EMERGING MARKETS
  • EURHUF continues to rally and has cleared 358.77, 76.4% of the Jul 26 - Sep 6 sell-off. The break signals scope for a climb towards key resistance at $362.46, the Jul 26 high. Initial support is at 354.65, the Sep 23 low.
  • EURPLN remains below 4.6341, Sep 22 high. Short-term bullish conditions remain intact though. The recent climb above 4.6000 and 4.6017, Jul 20 high strengthens a bullish case. Note too that 4.6224, 76.4% of the Mar 29 - Jun 7 downleg has also been breached. This opens 4.6800, Mar 29 high. The 50-day EMA at 4.5645 is seen as firm support. Today's gains are encouraging for bulls.
  • USDZAR maintains a bullish tone. The pair started the week on a firm note, as it resumed the rally from Sep 10 and has cleared 15.0807, 76.4% of the Aug 20 - Sep 10 downleg. The break opens 15.3948, the Aug 20 high. Support is seen at 14.5923, the 50-day EMA.
  • USDTRY remains firm. Friday saw the pair trade above key resistance at 8.8008, Feb 2 high. This break highlights an important range breakout and also confirms a resumption of the long-term uptrend. The break opens 8.9325, 1.00 projection of the Sep 10 - 20 - 22 price swing. Firm support is 8.6085, Sep 22 low.
  • USDRUB remains above 72.2462, Sep 15 low. A break of this support would resume bearish pressure and open 72.0405, Jun 25 low ahead of key support at 71.5542, Jun 11 low. Key near-term resistance is unchanged at 73.6208, Sep 20 high. A clear breach would open 74.5861, Aug 20 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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