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​CEEMEA FX Price Signal Summary: EURHUF Drifts Lower And Remains Below The 50-Day EMA

EMERGING MARKETS
  • EURHUF has drifted lower again today. The cross has breached support around the 50-day EMA, which intersects at 397.22.The break signals potential for a deeper retracement and opens the 390.00 handle. The broader uptrend remains intact and dips are still considered corrective - for now. Any reversal higher would open 408.51, the Jul 28 high and further out, the key resistance at 416.89, the Jul 6 high.
  • EURPLN has last week tested the mid-July lows at 4.6904. A solid break of this level would strengthen short-term bearish conditions and open the next downside level at 4.6713, 61.8% of the May 30 - Jul 12 bull phase. The move lower since Jul 12 is considered corrective. A resumption of gains would refocus attention on the first important resistance at 4.8088, the Jul 27 high.
  • USDZAR remains above 16.3906, the Jul 29 low. The recent recovery from this level means that the 50-day EMA continues to provide support - the average intersects at 16.4313. Moving average studies still highlight a broader uptrend and recent weakness is considered corrective. A continuation higher would open 17.3060, the Jul 14 high. This level also represents the bull trigger. On the downside, a clear break of the 50-day EMA would highlight a bearish threat.
  • USDTRY trend conditions remain bullish. The 18.00 handle was pierced last week, a clear break would strengthen the bullish theme and open 18.3633, the Dec 20 2021 high and a key resistance. The 20-day EMA, at 17.6918, is the initial firm support to watch.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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