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Eur-pln

Both Targets hit. 1D Channel Up intact. Long.Both TP = 4.34099 and 4.3700 got hit on EURPLN as the price aggressively increased inside the 1D Channel Up. This pattern is still intact and as you see it is testing the lower supporting trendline. With the 1D RSI = 48.813, MACD = 0.004, Highs/Lows = -0.0129, we can assume with a certain degree of technical certainty that the new Higher Low has been placed. The action is Long again with TP = 4.3700 again and 4.41340 (latest High) in extension.
Long
by InvestingScope
1
EUR/PLN 1H Chart: Medium term declineThe common European currency has been declining since the start of July against the Polish Zloty. The event from a technical perspective began due to the currency rate meeting the upper trend line of a dominant ascending channel pattern. The bounce off resulted in the formation of a descending medium term pattern, which is likely going to guide the rate further. In regards to the short term future, the pair is set to meet with a combined resistance of the 55 and 200-hour simple moving averages, which strengthen the upper trend line of the descending pattern. If the rate passes that resistance, the 4.38 level, where the 100-hour SMA is located at, will be targeted.
by UnknownUnicorn890690
EUR/PLN 1H Chart: Slight upside potential aheadThe Euro has been trading in an ascending channel against the Polish Zloty since late December, 2017. The most recent test of this senior pattern occurred mid-June when the pair reversed from the 4.26 area. It has since been guided by the 55– and 100-hour SMAs in a junior channel up. Technical indicators on longer-term time-frames demonstrate that there is still some upside potential for a bullish surge. Thus, it is expected that the Euro continues to trade in line with the junior and senior patterns, thus going for a test of the upper wedge line near 4.3750/4.3760 this week. The 61.80% Fibonacci retracement, the monthly R1 and the weekly R2 are likewise located in this territory. At this point, this upward movement might have exhausted itself, thus letting bears to take over the market. This scenario would be confirmed by a downside breakout of the 55– and 100-hour SMAs.
by UnknownUnicorn890690
EUR/PLN 1H Chart: Euro bound to breach wedgeThe appreciation of EUR/PLN has been guided by a medium-term rising wedge since early April. This has allowed the pair to strengthen by 4.50% up to its one-year high of 4.34 reached on May 30. It seems that this pattern might soon reach its maturity, thus pointing to a soon breakout. From technical point of view, the bottom boundary of this wedge should surrender. This assumption is likewise supported by technical indicators on the 1D time-frame which are located at the oversold territory. Thus, a medium-term depreciation is the more likely scenario. In the meantime, the Euro might be reluctant to breach the bottom wedge line near 4.31 on the first occasion, as this level is supported by the 200-hour and 55-period (4H) SMAs. In case upside momentum prevails in the short term, the aforementioned yearly high should remain intact.
Short
by UnknownUnicorn890690
EUR/PLN 1H Chart: Bearish signals prevailThe EUR/PLN exchange rate has shown no significant changes to its movement during the past two weeks, as it has remained trading in the 4.24/29 trading range. This movement sideways has occurred near the upper boundaries of both long– and medium-term channels. This situation demonstrates that the pair could be ready to abandon its four-week surge and turn to the downside. This scenario is likewise confirmed by converging technical indicators on the 4H and 1D time-frames. There is still some slight upside potential that could guide the Euro to the monthly R2 and the weekly R1 at 4.30. This should be followed by a test of the 55-, 100– and 200-hour SMAs near 4.2615. A successful breakout of this area should send the pair even lower down to the monthly PP and the weekly S2 at 4.21.
Short
by UnknownUnicorn890690
EUR/PLN 1H Chart: Bearish sentiment allaysThe Euro has depreciated substantially against the Polish Zloty since March 21. The pair reversed from the senior channel located near 4.24 during the given session and began trading in a new channel down. The pair’s trading range within this pattern has diminished, as it has failed to reach its bottom boundary for the past two weeks. This suggests that the Euro might be ready for a bullish breakout. In case this scenario occurs, the pair should target the upper boundary of the senior channel circa 4.22. There are some notable resistance levels along the way that could hinder the pair for some time, including, the 200-hour SMA and the monthly PP at 4.1965 and 4.21, respectively. On the other hand, the rate might still edge slightly lower down to a medium-term channel circa 4.17. A fall below the 4.1650 is not expected.
by UnknownUnicorn890690
EUR/PLN 1H Chart: Bearish wave in sightThe common European currency has shown solid growth against the Polish Zloty since February 20. Bulls have managed to push the rate 2.63% higher during this time, thus reaching a four-month peak of 4.2420 earlier today. The pair’s current movement has been confined in an ascending channel. The Euro, however, has failed to maintain the steep positioning and has therefore diminished its trading range. Technical indicators on the four-hour time-frame are located in the overbought region, thus pointing to the beginning of a new medium-term decline. The same message is conveyed by shorter-term indicators, especially when the nearest resistance is set by the strong weekly and monthly R2s circa 4.2425. The expected fall might not be very steep during the following sessions, as the southern barrier is protected by several support levels. Additional bearish momentum should be provided when the Euro breaches the weekly PP, the monthly R1 and the 200-hour SMA at 4.21.
Short
by UnknownUnicorn890690
2018 POLAND ECONOMIC GROWTH OFF TO STRONG START, EU GROWTH HELPSPLN has come under pressure after the National Bank of Poland reiterated its dovish stance at its policy meeting yesterday. Governor Glapinski suggested that the NBP may raise rates at the end of 2019 at the earliest, but current projections show no reason to raise rates before the end of 2020. This comes after the NBP revised its inflation forecasts marginally lower in 2018/19 while upgrading its GDP forecasts. Further dovish rhetoric suggesting rates on hold for a prolonged period of time, causing the market to price out hikes, could weigh on PLN from an interest rate differential perspective The NBP is likely to raise rates in 2019, AFTER the ECB. Nevertheless, the fundamental backdrop in Poland remains very strong, with solid growth and an improving external balance. Moreover, an improving Euro area backdrop should also benefit the zloty. We think such strong growth dynamics will ultimately support gradual PLN gains over the medium term. In addition, valuation looks attractive and the authorities continue to appear comfortable with zloty appreciation. In terms of risks, we acknowledge that we may see the zloty remain under pressure in the near term as rate expectations adjust. Credit to Morgan Stanley Research & Bloomberg wbj.pl
Short
by itzbert
EUR/PLN 1H Chart: Surge in medium term expectedFollowing a rebound from a 2,5-year low of 4.1317 late in January, the EUR/PLN exchange began moving higher in an ascending channel. This junior pattern proved to be strong enough to allow for a breakout of the dominant five-month channel last week (dashed lines). Technical indicators suggest that some upside potential still exists in the market. It could be capped near 4.2050 where the upper boundary of a medium-term channel, the monthly and weekly R1s and the 38.20% Fibo retracement are located. Given this significant resistance area, it is likely that the Euro corrects southwards and falls down to the 55– and 100-hour SMAs and the weekly PP circa 4.19. If looking at the pair’s movement during the two following weeks, the medium-term channel could surrender under the bullish pressure, thus paving the way for a surge in the medium term.
Long
by UnknownUnicorn890690
EUR/PLN 1H Chart: Wedge demonstrates downside potentialThe Euro has weakened notably against the Polish Zloty within the previous four months. During this time, the pair has diminished its trading range and formed a falling wedge pattern. The most recent test of its upper boundary started on January 19. The rate remained near this line for several sessions, but eventually fell down to the weekly S3 near 4.1350. In line with the prevailing wedge, the pair should decline even further down to its bottom boundary located near the 4.11 mark. This scenario should be realised next week. Meanwhile, it is expected that a brief correction up might be due. This increase in price, however, should not be long-lasting, as the northern side is limited by some notable resistance levels, such as the 100– and 200-hour SMAs, as well as the weekly and monthly S1s in the 4.1470/4.1600 area.
by UnknownUnicorn890690
EUR/PLN 1H Chart: Falling wedge dominatesEUR/PLN has been constrained by a channel down since mid-September. Given that the Euro has been trading with diminishing trading range, a falling wedge would be more precise depiction. The bottom line of this pattern was tested last week when the rate reversed from the 4.1425 area. Its subsequent movement was tended northwards within a narrow and steep ascending channel. Technical indicators suggest that the rate is likely to edge lower in this session. However, even if the 200-hour SMA is breached, the combined support of the 55– and 100-hour SMAs and the weekly PP is located nearby circa 4.1590. This area is expected to provide a strong barrier, thus resulting in a reversal back north. A near-term upside target is the upper wedge boundary and the monthly PP near 4.19.
by UnknownUnicorn890690
EUR/PLN 4H Chart: Near junior supportThe common European currency recently bounced off a dominant pattern’s resistance level against the Polish Zloty. In the aftermath of that event the currency pair began to plummet until it reached down to the combined support of the monthly PP and the lower trend line of the junior channel up pattern near the 4.2150 mark. However, in accordance with the larger scale situation that should not have occurred, as the pattern should be broken in the future, and a new junior pattern would form. Due to that reason the rebound is likely to be short lived.
by UnknownUnicorn890690
EUR/PLN 1H Chart: Pair confined by three channelsThe Euro’s movement against the Polish Zloty has been guide by several patterns since mid-September. The dominant one is a steep channel down. Its latest wave lacked direction, thus it could be characterized as a period of consolidation as a result of which another channel was formed. Meanwhile, the Euro bounced off the senior channel last week and has since began to edge lower towards the bottom boundary of the intermediate pattern located circa 4.2050. Technical indicators suggest that the pair could make a minor correction during the following day towards the support massive resistance cluster in the 4.2270/4.2350 area. Subsequently, the rate is expected to push for the intermediate channel, thus falling down to the aforementioned 4.2050 mark or the monthly S1 at 4.1920. By and large, given the steepness of the senior channel, it is likely that the Euro respects the intermediate channel more and thus breaches the former within the following week.
by UnknownUnicorn890690
EUR/PLN poised for gainsEUR/PLN had been trading in an ascending channel since late August prior to breaching this pattern to the downside on Tuesday. The pair’s movement during the past two weeks resembles a channel down; however, another bottom confirmation is still needed. Meanwhile, the common European currency has been testing the lower channel line for several hours, thus not being able to move below the 61.8% Fibonacci retracement. Technical indicators suggest that the rate should recover in the short term. A possible upside target could be the upper channel boundary circa 4.2940—a level which is reinforced by the 55– and 100-hour SMAs, the monthly PP and the weekly S1. In case of a downside momentum, the pair should be limited by the monthly S1 at 4.2516.
Long
by UnknownUnicorn890690
EURPLN While We Wait For Important NumbersThis is one of those higher spread pairs, but with a tight SL and a quick to action response, I trust this one to be a fine trade. I have a small position currently on the short side and hopefully can cash in tomorrow or the day after. Buying power seems weak, looking over the indicators, on the Stochastic - which I do not have on this chart - also indicates exhaustion on the buying side. Trade this one with caution, on the monthly and weekly chart it's near previous tested resistance.
Short
by chastic
EURPLN Reverse confirmationI believe we got a trustworthy reverse. The resistance at 4.29275 have been tested before. It broke out yesterday of the reverse cup, and is heading north of the 10EMA. Volume haven't picked up yet, so be aware it might do a drastic spike down over the next days, before continuing up. I have a bigger SL because I plan to hold this one for some time. For good practice, try and see weekly, 4h and 1h charts. The resist confirmation is really strong on this one.
Long
by chastic
Short EUR/PLN close below 20-DMAPolish Monetary Policy Council left interest rate unchanged at 1.5 percent Wednesday largely in line with expectations. The ECB earlier today maintained status-quo and left its main refinancing rate, deposit rate and marginal lending rates at 0.0%, -0.40% and 0.25% respectively. The euro edged slightly higher after ECB decision. Focus now on ECB President Mario Draghi's presser to determine the next leg of move for the shared currency. The pair broke below 20-DMA support at 4.3183, scope for test of 78.6% Fib at 4.2855. Momentum studies are bearish, RSI is below the 50 mark, Stochs are biased south and MACD line is on the verge of a bearish crossover on signal line. Major support levels - 4.3085 (61.8% Fib), 4.2959 (Aug 23 low), 4.2855 (78.6% Fib) Major resistance levels - 4.3182 (20-DMA), 4.3246 (50% Fib), 4.3337 (5-DMA) Good to go short on a close below 20-DMA, SL: 4.3250, TP: 4.2959/ 4.2855/ 1.2730
Short
by FxWirePro
EUR/PLN bounces higher from trendline support, long at 2.2450EUR/PLN edges higher, ignores bullish Polish manufacturing PMI data EUR/PLN was better bid despite bullish Polish data, trades at 4.2490, away from 4.2417 low hit earlier in the day Poland Purchasing Manager Index increased to 52.2 in October from previous 50.9, labour creation extended for a 27th month Risk-off trades following the release of the Caixin Chinese PMI report favoured safe-haven currencies such as the euro EUR/PLN has strong trendline support at 4.2420, pair has taken support and edged higher, weakness only below 4.2420 Immediate resistance on the upside is located at 4.2668 (Daily Tenkan) ahead of 4.2804 (Oct 30 highs) Recommendation: Good to buy dips around 2.2450, SL: 2.2400, TP: 2.2660
Long
by FxWirePro
3