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EURO / POLISH ZLOTY

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EURPLN trade ideas

The market is thin, let's analyze the Polish Zloty!Today is a holiday in the United States – July 4th Independence Day and considering this the market is thin and calm. We will analyze EUR/PLN 1DTF shows us a lot of consolidation, basically since about July of last year. We can observe a local dip down for the pair that started on May 22nd and this downtrend price reached May 2018 lows on July 1st. Switching to the 4H TF shows me the following: On July 1st I see a bullish engulfing, at which time Williams %R left the oversold zone. The following day, Jul 2nd, MACD lines intersected, a local correction to the upside followed on the 3rd and this morning we see an inverted hammer and bullish engulfing followed by the bulls breaking the 9EMA and local trend line to the upside. A s a result : At this time Long positions look favorable, ideally after the break of 23.6 Fibo level – which is where the price is currently travelling, with target areas of 4.24830 (38.2Fibo) followed by 4.25170 (50% Fibo) .
Long
by Olymp_Trade
EUR/PLN Analysis My Original analysis was a short looking from the daily and smaller time-frames but after looking at the HTF's numerous times I now believe that is it a LONG. The General trend on the HTF is Bulls, have also seen multiple reversal wicks whilst price moves sideways stuck in a range, as multiple pushes by sellers to push price beneath the support line become exasperated Expecting a pull back to the original support area that price pushed up from as market makers seek liquidity Wiping out all the early buyers, as we currently see price consolidating holding positions After the pull back i expect price to push even higher than original and hit the previous nearest high although i wont be holding that long beyond my original TP. As I'm close enough to the 2:1 ratio already Will wait and see how it plays out
Long
by TraderNMF
EURPLN 8 RRR long on monthlyTrading Methodology: 1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend. 2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point. 3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line . 4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line. This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
Long
by fiboracle
EUR/PLN 1H Chart: Ascending trend in sightThe Euro has been appreciating gradually against the Polish Zloty since the middle of August. This movement has been bounded in an ascending channel. As apparent on the chart, the currency pair is trying to surpass the resistance cluster formed by a combination of the 55-, 100-, 200-hour SMAs, the Fibonacci 38.20% retracement, the weekly PP and the monthly S1 in the 4.2932/4.3066 range. It is likely that the pair targets the lower channel line located circa 4.2850. If given channel holds, a reversal north occurs in the nearest future. Otherwise, a breakout south might occur soon. A potential downside target is the psychological level at 4.2600.
by UnknownUnicorn890690