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CEEMEA FX Price Signal Summary: EURPLN Extends This Week's Gains

EMERGING MARKETS
  • EURHUF has rebounded sharply from yesterday's low of 362.04. The outlook remains bullish and attention is on key resistance at 366.94, Oct 25 high that has recently been probed. A clear break would confirm a resumption of the uptrend and open the major resistance at 369.54, the Apr 1, 2020 high. Key support is at 358.48, Nov 4 low. Initial firm support is at 362.04.
  • EURPLN is trading higher again today. This week's break of 4.6480, the Sep 30 high strengthens a bullish case. The cross has also traded above 4.6800, Mar 29 high. This opens the 4.70 handle and 4.7424, the 1.382 projection of the Sep 1 - Sep 30 - Oct 7 price swing. Support is seen at 4.6233, the 20-day EMA.
  • USDZAR remains bullish and has this week traded through resistance at 14.4926, Nov 3 high. The break strengthens the case for bulls and note that 15.6625, Jan 11 high and a major resistance has also been breached. The focus is 16.00 and support is seen at 15.1542, the Nov 15 low.
  • USDTRY appreciation accelerated again yesterday. Following the recent break of 10.00, it has not taken very long for the USD to trade above the 11.00 handle. Based on Fibonacci projections, the next objective is 11.4515, the 2.00 projection Oct 1 - 25 - 26 price swing. Initial support is 10.4495, yesterday's low.
  • USDRUB remains bullish following the recent break of 72.2547, Nov 3 high. The break confirms a resumption of the upleg that started Oct 26 and price is above its 50-day EMA. The move higher opens 73.6208 next, Sep 20 high. Key S/T support has been defined at 70.5160, Nov 10 low. Initial support is seen at 72.0225, 50-day EMA.
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