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CEEMEA FX Price Signal Summary: USDTRY Trend Needle Still Points North

  • EURHUF maintains a bullish tone. The cross traded higher Monday and in the process cleared resistance at 399.64, Mar 7 high and a bull trigger. The break also confirms a resumption of the uptrend and attention is on 403.66, 0.764 projection of the Jan 13 - Mar 7 - 30 price swing. On the downside, a break of 387.15, the Jun 6 low is required to signal a potential top. Initial support is at 392.49, the 20-day EMA.
  • EURPLN is firmer. The cross traded higher Monday and has pulled away from its recent lows. Monday’s gains resulted in a print above the 50-day EMA, which intersects at 4.6331. A continuation higher would signal scope for a climb towards 4.7279, the Apr 26 high and a key resistance. On the downside, key short-term support has been defined at 4.5588, the Apr 6 low. This level also represents a bear trigger, where a break would reinstate a bearish theme.
  • USDZAR found support last week at 15.1685 on Jun 9. The recovery that day highlighted a potentially important short-term reversal - a bullish engulfing candle and an early signal that the corrective pullback since May 16 was over. Subsequent gains have reinforced the reversal and attention is on 16.3237, the May 16 high and a bull trigger. 15.1685 has been defined as a key short-term support, a break is required to reinstate a bearish theme. The 20-day EMA, at 15.6984, offers initial support.
  • USDTRY is consolidating. The pair remains in an uptrend and last week’s climb reinforced bullish conditions. The 17.00 handle has been cleared and this opens 18.00 next ahead of last year's major high at 18.3633, on Dec 20. Firm support lies at 16.5271, the 20-day EMA.

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