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CEEMEA FX Price Signal Summary - USDTRY Remains Above Support At The 20-day EMA

EMERGING MARKETS
  • The trend condition in USDZAR remains bullish and short-term pullbacks are considered corrective. Gains in October resulted in a breach of resistance at 18.2214, the Sep 28 high. This maintains a bullish sequence of higher highs and higher lows and reinforces the uptrend. A resumption of the uptrend would open the 19.00 handle. Key short-term support is unchanged at 17.5709, the Oct 4 low.
  • USDTRY is consolidating but the trend condition remains bullish and the pair is trading at its recent highs. The 18.6000 handle has recently been breached and a continuation higher would open 18.70 and beyond. The 20-day EMA, at 18.5543 is the initial firm support to watch.
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