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CEEMEA FX Price Signal Summary: USDTRY Clears The Bull Trigger

EMERGING MARKETS
  • EURHUF has continued to pull away from recent highs. The trend outlook remains bullish however the break of the 20-day EMA and today’s extension lower, has exposed support at the 50-day EMA, at 395.88. A clear break of this EMA would highlight potential for a deeper retracement. The broader uptrend remains intact and a reversal higher would once again refocus attention on key resistance and bull trigger at 416.89, the ul 6 high.
  • EURPLN has pulled back from last week’s high of 4.8515, Jul 12 high. A bullish theme still dominates following recent gains. 4.7446, the Jun 16 high, has been cleared and this signals scope for an extension towards 4.8976, the 76.4% retracement of the Mar 7 - May 30 bear leg. The 20-day EMA, at 4.7511, has been tested. A clear break would signal scope for a deeper retracement towards the 50-day EMA, at 4.7022.
  • USDZAR remains below its most recent highs. Short-term pullbacks are considered corrective and the current uptrend remains intact. This follows recent gains that resulted in the breach of major resistance at 16.3668, the Nov 26 2021 high. Moving average studies are in a bull mode condition too. The break confirmed a resumption of a broader uptrend that started in June 2021. This sets the scene for an extension higher towards the 17.50 handle next. Initial firm support is at 16.6215, the 20-day EMA.
  • USDTRY trend conditions remain bullish and the pair has cleared key resistance and the bull trigger at 17.4446, the Jun 22 high. A clear breach of this hurdle confirms a resumption of the primary uptrend and sights are on the 18.00 handle. Key support is unchanged at 16.0956, the Jun 27 low. The 20-day EMA, at 17.1530, marks initial support.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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