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Pln

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
EUR/PLN 1H Chart: Symmetrical TriangleEUR/PLN 1H Chart: Symmetrical Triangle The common European currency is trading against the Polish Zloty in a short-term symmetrical triangle. The pattern started to form right after the 1.5% appreciation of the Euro, which was triggered by announcement of the ECB Minimum Bid Rate two weeks ago. For the moment, the pattern already has four confirmation points, which means that it has reached maturity and might be broken in the nearest future. Most likely, the currency pair will leave the formation in the upward direction. Firstly , because the southern side is reliably protected by the 200-hour SMA, the monthly PP at 4.2457 as well as the weekly S1 at 4.2414. Secondly , because the triangle represents a body of the larger pennant pattern whose flagpole appeared because of the above fundamental event. In this sense, the rate is expected to surge approximately by 1.29% .
by UnknownUnicorn890690
USD/PLN 1H Chart: Ascending WedgeThe US Dollar is trading in an ascending wedge against the Polish Zloty. It might be assumed that the given pattern has reached its maturity that might result in a breakout this week. Ascending wedge is a continuation pattern that should guide the pair southwards, breaching a support cluster formed by the 55– and 100-hour SMAs circa 3.6430. A possible downside target could be set near the 3.62 mark—a level reinforced by the 23.6% Fibonacci retracement, the 200-hour SMA and the weekly PP. The aforementioned limit may likewise work as a reversal point after which the pair could make a retracement to the bottom wedge line. However, in case bears prevail, rate may fall down to the weekly S1 near 3.59.
Short
by UnknownUnicorn890690
USD/PLN 1H Chart: Descending TriangleUSD/PLN 1H Chart: Descending Triangle The American Dollar is losing value against the Polish Zloty in a pattern that has the features of a descending triangle. An impulse necessary for its formation was given by an announcement of the US Federal Funds Rate on Wednesday. In theory, the currency rate should exit the pattern in the southern direction. On validity of this scenario indicate combination of the 20-, 55-, 100-, 200-period SMAs and the weekly PP that exercise pressure on the pair from the top. On the other hand, the lower trend-line coincides with the monthly S2 at 3.6160, which has already proved to be a strong support barrier (6 prior rebounds). Besides, there is a chance that even if the pair breaks downwards, the fall would be stopped near 3.6107, to which point out three William’s fractals.
by UnknownUnicorn890690
USD/PLN opportunityThis is only my analysis and I do not pretend to be expert, so, be careful. I expect few moves the next few weeks. It follows the same logic than for my other post on EUR/CAD. 1) USD/PLN should stay quiet during this time, between 3.70 and 3.73-75, waiting for the news. 2) The PLN then, should be be strengthened because of the ECB decision rate the 9th June, breaking the 3.70 support to the next one at 3.6. European news are impacting the PLN, as a member of the Euro Area (even if Poland does not have the same currency, but by gravity). The Polish economy is growing, the expected GDP (around 4%) is a good indicator of it; the good EUR performance and the business sentiment are positively impacting the PLN, pushing down the pair. 3) A correction should appear during the week, bringing the USD/PLN aroung 3.70. 4) As the markets are strongly expecting, the FED decision will improve the USD, then a move to 3.85 is 90% possible, if not even more. In theory, a perfect move can be to short until 3.6 and to buy until the USD/PLN is reaching 3.85 ~ 200 pips. In addition, the PLN is most likely to depreciate his currency, as it appears to be done every six months. The last interesting time that occured, was during the Trump election when the pair was at 4.27. If the PLN depreciates in the same time than USD appreciates, a move until 4 or 4.10 (if the 4 psychological resistance breaks) is not to exclude. Good luck and trade safe.
Long
by ALEX97480
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
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