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CEEMEA FX Price Signal Summary: USDTRY Continues to Appreciate

EMERGING MARKETS
  • EURHUF remains below recent highs. The move lower is allowing an overbought condition to unwind. The trend condition is bullish though and a pullback is considered corrective. Support to watch is at 371.99, the Nov 23 2021 high and a recent breakout level. The bull trigger is Monday’s high of 399.64.
  • EURPLN remains softer following the move lower from Monday’s high of 5.0019. This retracement is considered corrective and is allowing an overbought condition to unwind following an impulsive bull run that started mid February. Watch support at 4.7416, the Nov 23 2021 high and a former breakout level. The bull trigger is 5.0019.
  • USDZAR traded lower Wednesday. Price has recently challenged the Feb 10 low of 14.9815 and is again trading below a trendline support drawn from the Jun 7, 2021 low that today intersects at 15.2917. Price still needs to extend lower to reinforce the bearish significance of a breach of these levels. A break of 14.9133, Feb 17 low, would likely trigger a stronger sell-off and resume bearish pressure. Key resistance is unchanged at 15.7559, the Jan 31 high.
  • USDTRY continues to climb and has this week traded above the 14.6462 high from Feb 24. The outlook is bullish and the move higher has opened 15.2645, 61.8% of the Dec 20- 23 sell-off. Support is at 14.0717, the 20-day EMA.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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