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Euro / Polish Zloty

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EURPLN trade ideas

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
EUR/PLN Chartpack - Technicals and Trade SetupLeverage EUR/PLN yields in upswings via one-touch calls and hedge via mid-month futures on lingering bulls at neckline of triple top: On weekly plotting, the pair forms the triple top pattern which is bearish in nature. With top 1 at 4.5123, top 2 at 4.5391 and top 3 at 4.5064 levels and neckline at 4.2680 levels. Last week it has tested supports at neckline, as a result, to begin this week we see attempts of bounce back but restrained resistance at 7WMA at 4.3135 levels. Although bulls are activated at the neckline of triple top formation in the historical levels, last three months the major trend seems to be weaker as the both leading as well as lagging indicators have been indecisive, any break above 7WMA likely to drag rallies. Upswings may drag but capped at resistances of 4.3185 and 4.3688 levels, failure swings may bring in bearish momentum. But for now, to favor the bulls swings that prevalent at this juncture (see daily chart) that are backed up by momentum indicators, we advocate one touch binary calls for target up to 4.3280 levels (upper BB) to leverage profits from a rise in the price of the underlying spot FX. Alternatively, on both hedging as well as speculative grounds we encourage adding longs in futures contracts of mid-month expiries to arrest potential upside risks ahead of European elections. But maintain a strict stop loss 4.2680 levels.
Long
by FxWirePro
2
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
EURPLN daily outlook updateHi guys, I did already post this idea before, but now I have a slightly different perspective. I think price will move strongly to the highs, as there is more bullish conviction at this level than I previously realised. With the compelling bull candles at the key retracement level, the hidden bull divergence and a clear break of a wedge this is a great opportunity to be buying at the lows into the highs. The weekly shows a great set up too, which I will show in the update section of this idea. Like and follow to receive instant notifications and links to this chart. Thank you for your support.
Long
by TomProTrader
EUR/PLN technicals and trade setupEUR/PLN intermediate bearish trend takes support at 20-EMA, rallies seem momentary as bulls struggle to clear major resistances: The pair after testing supports at 4.2625 levels, bull swing has been dragging from last 3-4 consecutive days but the prevailing upswings could be dragged but capped at resistances of 4.3124 & 4.3185, failure swings may bring in bearish momentum. RSI indicates the strength is favored by interim bull swings. Daily stochastic signals the momentum in bullish sentiments. Whereas these signals are not substantiated by lagging indicators, MACD has remained well below zero levels and there is no bullish crossover yet. On a broader perspective, back to back shooting stars evidence dips, slide below 20EMA to bring in more slumps (see monthly chart). Intermediate trend takes support at 20 & 21EMAs. RSI evidences consistent lower lows, converges to the price declines. The %D crossover on slow stochastic curves on monthly terms implies that the selling momentum is intensified. Trade Tips: One can use current rallies to deploy fresh shorts in this pair by shorting 2D 0.5% ITM puts, while simultaneously adding longs in 1w ATM puts, the position resembles like credit put spread but the strategy would probably be entered at net debit as we chosen very narrowed expiries on shorts side as the bearish sentiments are comparatively more amid current rallies, but we don’t want to miss out the upswings that could effectively reduce the cost of the option trade.
by FxWirePro