MNI: BRAZIL CENTRAL BANK HOLDS SELIC RATE AT 10.50%

MNI: Rough Transcript of Powell's July Press Conference

MNI: Comparison of Powell's Opening Statement - July vs June

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TECHS: CEEMEA FX Price Signal Summary: EURPLN Bear Flag

EMERGING MARKETS
  • EURHUF maintains a bearish tone and is trading closer to recent lows.
    • The cross has probed 360.35, 360.35, 61.8% of the rally between Feb 2 and Mar 18.
    • This exposes at 358.65, a trendline support drawn off the Jul 31, 2020 low.
    • A break of the trendline would highlight scope for an extension of the current bear leg.
    • Resistance is at 363.87, Mar 31 high.
  • The recent pullback in EURPLN is considered corrective. Recent activity though suggests the pullback appears likely to extend.
    • A bear flag formation (continuation pattern) signals the recent consolidation is a pause on the downtrend.
    • Attention is on the 50-day EMA at 4.5697. A clear break would strengthen a bearish case and open 4.5489, 61.8% of the rally between Feb 10 - Mar 29.
    • Initial resistance is at 4.6088, Apr 5 high ahead of 4.6364, Apr 1 high.
  • USDZAR maintains a bearish short-term tone following the recent move lower from 15.5726, Mar 8 high. Scope is seen for a pullback towards 14.3966, Feb 24 low. Initial resistance is at 15.1000, Mar 26 high. The reversal trigger for bulls is 15.5726, Mar 8 high.
  • USDTRY maintains a bullish tone with attention on key resistance at 8.4704, Mar 22 high. A break of this hurdle would open 8.5793, the Nov 6 high and an important resistance. Key support has been defined at 7.6958, Mar 22 low.
  • USDRUB attention is on resistance at 76.6579. Mar 24 high. This level was probed yesterday. A clear break would signal scope for an extension higher and open 77.7370, 61.8% retracement of the Nov 2020 - Mar downleg. Initial support lies at 75.2275, Mar 31 low.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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.