Zloty Long Trade Setup
Updated
Current Position:
EURPLN recently approached the lower bound of its trading range for the past year, presenting an attractive entry point for a long trade.
Supporting Factors:
Technical Setup:
The technical backdrop supports a higherEURPLN , suggesting bullish potential.
Risks:
A swift resolution to the Ukraine war, as indicated by President-elect Trump’s intentions, could strengthen the zloty and pose downside risks to the trade.
EURPLN recently approached the lower bound of its trading range for the past year, presenting an attractive entry point for a long trade.Supporting Factors:
- NBP Hawkishness: The National Bank of Poland's hawkish guidance at its December meeting has supported the zloty, but risks of an earlier-than-expected rate cut may weaken it.
- External Risks: Potential trade frictions under the incoming US administration could hurt the European outlook and indirectly weigh on Poland's economy.
Technical Setup:
The technical backdrop supports a higher
EURPLN , suggesting bullish potential.Risks:
A swift resolution to the Ukraine war, as indicated by President-elect Trump’s intentions, could strengthen the zloty and pose downside risks to the trade.
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