GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EMERGING MARKETS: CEEMEA FX Price Signal Summary - USDTRY Bull Wave Extends

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • USDZAR continues to trade above the Jan 24 low. Price action on Jan 27 highlighted a possible early reversal signal - a bullish engulfing candle. The pattern has also signalled the end of the corrective cycle between Jan 13 - 24. A resumption of gains would expose key short-term resistance at 19.2296, the Jan 13 high. Clearance of this level would confirm a continuation of the medium-term uptrend. Support to watch is 18.3022, the Jan 24 low. A breach of this level would instead reinstate the recent bear cycle and open 18.2343 and 17.992, the 61.8% and 76.4% retracement points of the upleg between Dec 12 - Jan 13.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a continuation of the trend. The 36.00 handle has been cleared, this opens 37.00. Support at the 20-day EMA, lies at 35.7694.
146 words

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.
  • USDZAR continues to trade above the Jan 24 low. Price action on Jan 27 highlighted a possible early reversal signal - a bullish engulfing candle. The pattern has also signalled the end of the corrective cycle between Jan 13 - 24. A resumption of gains would expose key short-term resistance at 19.2296, the Jan 13 high. Clearance of this level would confirm a continuation of the medium-term uptrend. Support to watch is 18.3022, the Jan 24 low. A breach of this level would instead reinstate the recent bear cycle and open 18.2343 and 17.992, the 61.8% and 76.4% retracement points of the upleg between Dec 12 - Jan 13.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a continuation of the trend. The 36.00 handle has been cleared, this opens 37.00. Support at the 20-day EMA, lies at 35.7694.