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CEEMEA FX Price Signal Summary: USDTRY Appreciation Continues To Accelerate

EMERGING MARKETS
  • EURHUF continues to trade below recent highs. The outlook though remains bullish and attention is on key resistance at 366.94, Oct 25 high that was recently 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.
  • EURPLN is above former resistance at 4.6480, the Sep 30 high and holding onto recent gains. The breach of 4.6480 strengthens a bullish case and exposes 4.6800, Mar 29 high. Initial key support has been established at 4.5699, Nov 3 low. The 20-day EMA at 4.6183 provides initial support.
  • USDZAR remains bullish and has this week traded through resistance at 14.4926, Nov 3 high. The break strengthens the case for bulls and opens 15.6625, Jan 11 high and the next major resistance. The low on Nov 9 of 14.8637 marks a key short-term support.
  • USDTRY appreciation continues to accelerate and following the recent break of 10.00, it has not taken very long for the USD to be closing in on the 11.00 handle. Based on Fibonacci projections, the next objectives are 11.0282 and 11.1043, the 2.50 and 2.618 projections of the Oct 20 - 25 - 26 price swing. Initial support is 10.3083, 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 short-term support has been defined at 70.5160, Nov 10 low. Initial support is seen at 71.9785, the 50-day EMA.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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