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USDPLN

USD/PLN 1H Chart: Short-term channel in sightThe US Dollar has been depreciating slightly against the Polish Zloty since the beginning of October. This movement has been bounded in a descending channel. Given that the rate is supported by the 100– and 200-hour SMAs, currently located near 3.740, it is likely that the pair goes upside within following days. If given channel does not hold, a breakout north occurs soon. A potential upside target is the upper boundary of a medium-term channel located circa 3.8400. Otherwise, it is expected that the pair makes a reverse and aim for the lower channel line located circa 3.6800.
by UnknownUnicorn890690
USD/PLN 4H Chart: Stranded between SMAsThe US Dollar has been depreciating against the Polish Zloty since the middle of August after the currency pair pullback from the upper boundary of a descending channel at 3.8410. The exchange rate was stranded between SMAs during the morning hours of Monday’s session. The 200-hour simple moving average was providing resistance at 3.6996, while the 100-hour moving average was providing support at 3.6828. A breakout through the upper boundary of a descending channel is likely to occur within this session. If this breakout occurs, the next target for the currency exchange rate will be at 3.7158 during the following trading sessions.
by UnknownUnicorn890690
USD/PLN 1H Chart: Pair lingers near channel lineThe US Dollar began accelerating against the Polish Zloty mid-April. Following a test of the 3.35 level, the rate breached the prevailing long-term channel and shot up to the 3.75 area. This movement has been bounded in a new senior channel. Its upper boundary is located at the aforementioned 3.75 mark. By mid-Monday, the pair was testing its other boundary circa 3.62. Short-term technical signals point to further advance. The nearest level of strong resistance is 3.67 where the 38.20% Fibo and the 100– and 55-period (4H) SMAs are located. A successful breakout of this area should push the pair up to 3.80 or even 3.90. In case this mark remains intact, it means that bears would be ready to take the dominant hand within the following weeks. As a result, the current senior channel should be breached to the downside just to allow the Greenback to approach 3.55/00.
by UnknownUnicorn890690
USD/PLN 4H Chart: Pair shows signs of weaknessAfter testing the upper boundary of a long-term channel for a couple of weeks, the US Dollar picked up significant force late in April, dashed through its upper boundary and the 55-, 100– and 200-period SMAs and skyrocketed up to the monthly R2 situated near the 3.62 level. This strong upside momentum has been constrained in a narrow ascending channel. It is apparent from the pair’s movement this week that the given bullish strength has started to allay, thus pointing to a possible southern breakout from the junior channel. Technical indicators on the 4H and 1D time-frames likewise confirm this scenario, demonstrating that the expected decline might actually prevail for several weeks. The nearest support of significance is the weekly PP, the 23.60% Fibonacci retracement and the 55-period SMA at 3.54, while the Greenback might still target the 200-period SMA currently located near the 3.44 area in the medium term.
Short
by UnknownUnicorn890690
USD/PLN 1H Chart: Trades in triangleThe US Dollar has diminished its trading range against the Polish Zloty within the last few months, thus forming a medium-term triangle. After bouncing off the lower boundary of this pattern last week, the pair has entered a minor period of consolidation towards the senior channel located near the 3.42 mark. It is apparent that the pair has been reluctant to edge higher during the last three trading sessions. This might suggest that a test of the senior channel could be followed by a decline, as supported by technical indicators on the weekly time-frame. In case the channel line is breached to the upside, the pair is likely to find resistance near 3.44 prior to approaching the bottom triangle line. A possible downside target for the following two weeks could be the monthly S1 at 3.3450.
Short
by UnknownUnicorn890690
USD/PLN 4H Chart: After breaking long term trendsThe large fundamental changes in the strength of the US Dollar have caused a massive change of direction on the USD/PLN currency pair’s charts. Namely the decline in the US equity markets and the shift in the US monetary policy combined broke the resistance lines of all of the dominant patterns of the USD/PLN. Due to that reason Dukascopy analysts set Fibonacci retracement levels and trend lines to the recent surge. It was discovered that the pair is trading in two ascending channels. Meanwhile, the pair has made a retracement near the 23.60% Fibo. Due to that reason beware near the next retracement level.
by UnknownUnicorn890690
USD/PLN 1H Chart: Pair stopped by senior channelUSD/PLN is trading in two channels which are guiding its movement. During the past six weeks, the Greenback has been trading sideways in the 3.3085/3.4330 area. Its latest movement upwards, however, was disrupted by the senior channel near the 3.40 mark, thus sending the US Dollar for a minor period of decline. It is likely that this dominant pattern, reinforced by the 55– and 100-hour SMAs, the 23.60% Fibo retracement and the monthly PP, pressures the rate even lower during the following sessions. A possible downside target is the 3.36 level where the 200-hour SMA is located. However, the pair should eventually gather enough bullish momentum to approach the upper boundary of the junior channel near 3.4340.
by UnknownUnicorn890690
USD/PLN 1H Chart: Gradual recovery from many-year lowThe US Dollar has been trading against the Polish Zloty in a descending channel since November, 2016. The bottom boundary of this long-term pattern was tested on January 25 near 3.31—level which also marks the lowest point since mid-2014. The pair has since edged higher; however, it has failed to move away from the senior channel. Meanwhile, the pair’s latest wave down has been bounded by two medium-term channels, the most junior of which was being tested today. The pair is expected to make another decline in this session, as a breakout north is likely to be hindered by the combined resistance of the 100– and 200-hour SMAs and the weekly PP circa 1.3430. However, the bullish sentiment should eventually take over the market, thus allowing for the US Dollar to test a channel line in the 3.38/40 area and subsequently move towards the upper boundary of the most senior pattern.
Long
by UnknownUnicorn890690