Free Trial

CEEMEA FX Price Signal Summary - USDTRY Remains Above The 20-Day EMA

EMERGING MARKETS
  • USDZAR has pulled back from last Thursday’s high of 17.9596 and is retracing the Nov 30 - Dec 1 bounce. A firm resistance is seen at 17.9384, the 61.8% retracement of the downleg between Oct 13 - Nov 30. This level was pierced last week, a clear break of it would expose 18.5815, the Oct 13 high. Price needs to trade below 16.8980, the Nov 30 low to reinstate the recent bearish theme.
  • The primary trend direction in USDTRY is unchanged and remains up. The 18.6000 handle has recently been breached and a continuation higher would open 18.70 and beyond. The 20-day EMA, at 18.6084, marks the first support.

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.