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CEEMEA FX Price Signal Summary: EURHUF Recovers From Recent Lows

EMERGING MARKETS
  • EURHUF has recovered from its recent low of 366.41, on Mar 30. This represents an early bullish reversal signal and reinforces a bullish set-up in moving average studies that continue to highlight an uptrend. An extension higher would open 383.17, the Mar 14 high and a key short-term resistance. Key support has been defined at 366.41.
  • EURPLN is unchanged and short-term conditions remain bearish. This follows the recent sharp sell-off from 5.0019, Mar 7 high. The 50-day EMA and support at 4.6570, Mar 16 low, were breached last week, paving the way for a move towards 4.60 and below. Initial firm resistance is seen at 4.7867, the Mar 25 high.
  • USDZAR is in consolidation mode. Bearish conditions remain intact and the pair is trading closer to recent lows. The break of support at 14.9133, Feb 17 low, in March, confirmed a resumption of the downtrend that started Nov 26 2021. Moving average studies are in a bear mode too, reinforcing the current trend direction. The focus is on 14.3542 next, the Oct 20 2021 low. Initial resistance is at 14.7816, the 20-day EMA.
  • USDTRY traded lower Mar 29. The move lower is considered corrective and bullish trend conditions remain intact. Scope is seen for a climb towards 15.2645, 61.8% of the Dec 20 - 23 sell-off. The 20-day EMA, at 14.6212, has provided support. A more important short-term support lies at 14.3979, the Mar 15 low.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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