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CEEMEA FX Price Signal Summary: EURPLN Recovers From Lows Just Below The 50-Day EMA

EMERGING MARKETS
  • A EURHUF bearish threat appears to have eased following the recovery from recent lows at 394.85, on July 25. This level represents a key short-term support and lies just below the 50-day EMA, at 396.51. A clear break of this support would strengthen the case for bears. A continuation higher would open the 410.00 handle and the key resistance at 416.89, the Jul 6 high and key resistance.
  • EURPLN bearish conditions also appear to be reversing. The strong recovery from Monday’s low of 4.6904, means the 50-day EMA, at 4.7129, has provided support. The move higher signals the end of the bear leg between Jul 12 - 25. A continuation higher would open resistance at 4.8013, the Jul 18 high. Key resistance is at 4.8515, the Jul 12 high. A break of 4.6904 support would reinstate a bearish theme.
  • USDZAR remains below its most recent highs. Short-term pullbacks are still considered corrective and the current uptrend remains intact. This follows the breach, early July, of major resistance at 16.3668, the Nov 26 2021 high. Moving average studies are in a bull mode condition too. A resumption of gains would open the 17.50 handle next. The next firm support is at 16.3237, the May 16 high.
  • USDTRY trend conditions remain bullish and the pair continues to appreciate. The recent break of 17.4446, the Jun 22 high, confirmed a resumption of the primary uptrend. Sights are on the 18.00 handle. Key support is unchanged at 16.0956, the Jun 27 low. The 20-day EMA, at 17.4113, is an initial firm support.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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