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EURO / POLISH ZLOTY

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EURPLN trade ideas

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.
Short
by Financebroker
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.
Long
by Financebroker
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.
by InkyGrip
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