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Eurplnlong

ridethepig | PLN Market Commentary 2020.02.19The outflows from Poland have been staggering to say the least, large sharks abandoning ship before the storm reaches shore. Notice how the NBP (National Bank of Poland) has been dovish even though inflation ticks higher ...everything is fine right... We traded the PLN devaluation versus CZK previously, now I prefer EURPLN longs as my 'weapon' of choice. There is room for a leg into 4.3075x and 4.333x as the extension. Thanks as usual for keeping the support coming with likes, comments and etc. An important round of G10 and EM macro FX charts coming over the next few sessions ...
Long
by ridethepig
3
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