MNI: ECB CUTS KEY DEPOSIT RATE BY 25 BP TO 3.0%

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI: CANADIAN OCT BUILDING PERMITS -3.1% MOM

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: USDTRY Arrives At The 18.00 Handle

EMERGING MARKETS
  • EURHUF has drifted lower this week and is trading closer to its recent lows. The cross has breached support around the 50-day EMA, which intersects at 397.47. A clear break of the EMA would signal potential for a deeper retracement and open the 390.00 handle. The broader uptrend remains intact and dips are still considered corrective - for now. Any return higher would open the 408.51, the Jul 28 high and further out, the key resistance at 416.89, the Jul 6 high.
  • EURPLN has tested the mid-July lows at 4.6905. A solid break of this level would strengthen short-term bearish conditions and open the next downside level at 4.6713, 61.8% of the May 30 - Jul 12 bull phase. The move lower since Jul 12 is considered corrective. A resumption of gains would refocus attention on the first important resistance at 4.8088, the Jul 27 high.
  • USDZAR has recovered from 16.3906, the Jul 29 high. The bounce means that the 50-day EMA continues to provide support - the average intersects at 16.4093. Moving average studies still highlight a broader uptrend and recent weakness is considered corrective. A continuation higher would open 17.3060, the Jul 14 high. This level also represents the bull trigger. On the downside, a clear break of the 50-day EMA would highlight a bearish threat.
  • USDTRY trend conditions remain bullish and the pair continues to appreciate. The 18.00 handle has been pierced , a clear break would strengthen the bullish theme and open 18.3633, the Dec 20 2021 high and key resistance. The 20-day EMA, at 17.6413, is an initial firm support.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.