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CEEMEA FX Price Signal Summary - USDTRY Uptrend Extends

EMERGING MARKETS
  • A bullish outlook in EURHUF remains intact. Price has recently breached resistance at 405.03, the Sep 5 high and the break has strengthened a bullish case. This has opened the bull trigger at 416.89, the Jul 6 high. Key support is unchanged at 394.07, the Sep 8 low. A break would reinstate a bearish theme. The 50-day EMA, at 401.83, is first support.
  • Recent EURPLN gains have strengthened a bullish case. Attention is on the first important resistance at 4.7887/8088, the Aug 24 and Jul 27 highs. A clear break of this zone would further strengthen the case for bulls and expose 4.8515, the Jul 12 high. On the downside, key short-term support is at 4.6888, Sep 12 low.
  • The uptrend in USDZAR remains intact and the pair traded higher Monday. Price has recently traded above key resistance at 17.3060, Jul 14 high. This break highlights a resumption of the uptrend that started in June 2021 and maintains the bullish price sequence of higher highs and higher lows. 17.9493, the 76.4% of the 2020 - 2021 bear leg, has been breached. This paves the way for a climb towards 18.3777 next, the May 19 2020 high. Key short-term support has been defined at 17.4454, the Sep 13 low.
  • USDTRY trend conditions remain bullish and the pair continues to appreciate. Price has cleared 18.3633, the Dec 20 2021 high and a key resistance. This opens 18.6000 next. The 20-day EMA, at 18.2603 is the initial firm support to watch.
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