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Euro / Polish Zloty

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EURPLN trade ideas

EUR/PLN 1H Chart: Symmetrical triangle in sightThe EUR/PLN currency pair has been trading in symmetrical triangle since the beginning of July. Also, the pair reversed from the upper pattern line located near 4.3282. Given that currently the rate is pressured by the 55-, 100– and 200-hour SMAs, it is expected that the pair goes downside. A potential target is the lower triangle line located circa 4.2800. Technical indicators for the short term support bearish scenario. If the pattern does not hold, a breakout south might follow. Important support level to look out for is a combination of the Fibonacci 50.00% retracement and the weekly S2 at 4.2738.
by UnknownUnicorn890690
EUR/PLN 1H: Pair tests senior patternThe EUR/PLN exchange rate is trading in two prominent channels. The most senior pattern is an ascending channel which was formed in December 2017, while the more junior one has been guiding the Euro since the beginning of June. The pair reversed from the senior channel on August 17. It did, however, fail to accelerate, being restricted by the junior channel and the monthly PP at 4.32. As a result, it had returned near the senior channel today. Two scenarios should be considered. First, in case the senior channel near 4.2650 remains intact, the rate should target the junior channel circa 4.31 and eventually breach it to the upside. Second, bearish sentiment could prevail in the market, thus setting the 200-day SMA and the monthly S1 at 4.2250 as the most probable downside target.
by UnknownUnicorn890690
Head and Shoulders formation. Short near the top of RS.EURPLN has eventually rebounded on the same distance bar from High to Low and is in the process of forming the Right Shoulder of the 1W Head and Shoulders pattern (RSI = 57.116, CCI = 10.8781, Highs/Lows = 0.0000). 4.3273 is a valid point to enter an additional short as the top is projected to be near 4.3400. A conservative TP is 4.25796 with the extension on the 4.23609 support. The 1D Channel Down that should emerge can even target 4.22033.
Short
by InvestingScope
2
EUR/PLN 4H Chart: Decline continues The single European currency has depreciated massively against the Polish Zloty since the beginning of July. The currency pair started the decline after it reached a one –year high level at the 4.42 mark. The exchange rate has since lost 3.59% of its value since July 4. During the one month long of the Euro weaken, the pair breached a significant support level within this period. Namely, the 55-, 100-, and 200-hour SMAs. The pair has moved closer to the bottom border of a dominant ascending channel pattern and could be set for a breakout. In the meantime, it is expected that the EUR/PLN pair to make a brief retracement toward the 55-hour simple moving average during the following trading session.
Short
by UnknownUnicorn890690
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