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CEEMEA FX Price Signal Summary: EURPLN Finds Support

EMERGING MARKETS
  • EURHUF found support last week at 387.15, Jun 6 low, and is holding on to its recent gains. Attention is on key resistance at 399.64, the Mar 7 high. This is an important bull trigger, where a break would confirm a resumption of the broader uptrend and open 400.00 and 403.66, 0.764 projection of the Jan 13 - Mar 7 - 30 price swing. On the downside, a break of 387.15 is required to signal a potential top.
  • EURPLN is pulling away from its recent lows and today’s gains have resulted in a print above the 50-day EMA, which intersects at 4.6312. A continuation higher would improve short-term bullish conditions and signal scope for a climb towards 4.7279, the Apr 26 high and a key resistance. On the downside, key short-term support has been defined at 4.5588, the Apr 6 low. This level also represents a bear trigger, a break would reinstate a bearish theme.
  • USDZAR found support last week at 15.1685 on Jun 9. The recovery that day highlighted a potentially important short-term reversal - a bullish engulfing candle and an early signal that the corrective pullback since May 16 was over. 15.1685 has been defined as a key short-term support and an extension higher would open 16.3237, the May 16 high and a bull trigger. Price needs to trade below 15.1685 to reinstate a bearish theme.
  • USDTRY remains in an uptrend and last week’s climb reinforced bullish conditions. The 17.00 handle has been cleared and this opens 18.00 next ahead of last year's major high at 18.3633, on Dec 20. Firm support lies at 16.3632, the 20-day EMA.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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