EURPLN trade ideas
EUR/PLN -short initiated.Covid cases rising. Banks are saying PLN will get weaker. In my view this currency will start to strengthen starting next week.
Short Initiated at top of last weeks trading.
EURPLN SHORT TRADEAlthough I am not getting into this trade I do see a bearish engulfing candle at resistance on the 12 hour chart. This could be a good 2 to 1 R:R trade. Use small lots.
EURPLN SELL OPORTUNITY NEAR KEY LEVELwe can see the price bounced again from the key resistance , fast drop down indicates the strenght of sellers
Germany’s retail sales MoM reportThe pair failed to break out from a major resistance line, sending the pair lower towards a major support line. Germany’s retail sales MoM report recorded its second-highest monthly growth since July 2011. However, this optimism quickly turned into pessimism as the country’s year-over-year result for the report recorded a 3.1% improvement. This represents the second consecutive decline for the report, which contradicts the MoM report for the month of August. While western Europe’s economy remains uncertain with its future, eastern Europe led by Poland is on the rise. A recent report showed the country shrinking by less than 3.0% this year. Analysts also see a strong rebound for the economy in 2021. A major catalyst for this was the country’s strict tax collection. Moreover, the recently passed 2021 budget for Poland includes a budget deficit of up to 4.6% to help businesses and individuals to cope up with the economic impact of COVID-19.
SHORTYou have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do.
So let's see what happens.
Maria
LONGYou have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do. So let's see what happens.
Maria Graells
EURPLN Long IdeaEURPLN broke out of this consolidation box. I believe the price can go for a retest of the box, and then make another push to the upside
The increasing number of coronavirus infections in PolandThe Polish zloty fails to gain support from the optimism in the region’s stock market. Prices of the euro to Polish zloty trading pair are projected to rally and hit their resistance level by the first half of September. Vaccine hopes have greatly improved the optimism in the global markets. However, the increasing number of coronavirus infections in Poland is helping the cause of bullish investors. Just recently, it was reported that the number of confirmed cases in Poland jumped to more than 63,000 according to the Polish Ministry of Health. However, compared to other countries around the World, Poland’s outbreak isn’t that big. On the other hand, the slight improvements in the US-China trade talks supported the cause of the euro. Just recently, it was reported that the two feuding sides finally held a phone call which boosted the optimism and risk sentiment in the market. Aside from that, the positive economic data from the euro is also helping it to remain strong.
EURPLN a short opportunity 🦐After our profit on this pair we look now for a new opportunity.
Market hit on the daily support and already tested it few times.
Yesterday market tried to break the structure without succes and price got rejected inside the bear flag .
Finally seem that price lost support and we can look for a nice short order according with Plancton's strategy .
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
SHORTYou have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do. So let's see what happens.
Maria Graells
LONGYou have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do. So let's see what happens.
Maria Graells
The euro doesn’t stand a chance against the Polish zlotyDespite the strength of the euro against other major currencies such as the US dollar, it, unfortunately, doesn’t stand a chance against the Polish zloty. In fact, bears have been slowly and steadily dragging the pair, and now it’s heading towards its support level. It’s believed that prices will go down to its lowest ranges in nearly five months as the Polish zloty works to recover the euro’s major gains from the beginning of the pandemic. What’s slowing down the Polish zloty now is the fears of another wave of coronavirus infections in the nation. That would further harm the economy and do more damage to the zloty. The reopening of economies in the region has benefited almost all of the currencies there, and the zloty is no exemption. One of the main factors that have affected the Polish zloty is the recent election in the country. Just recently, Poland’s top court ruled that the results of the presidential elections were valid, closing the argument for now.
EURPLN double top on the 0.618 🦐The market has retraced in a inside a channel till the 0.618 fib level and created a double top.
Now the price is moving down and if the price will manage to break the channel and consequently will break the 4h structure we can look for a nice short order according with our strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Eur/zloty can still go further down I missed the start of the move but it might still have a few peeps in it
