PLNEUR trade ideas
EUR/PLN MULTI-TIMEFRAME ANALYSIS Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
EURPLN - a surprising interest rate cutA very surprising cut of interest rates at today's one-day MPC meeting, without a press conference, may have its impact on the future of the Polish zloty.
In recent days, the EURPLN exchange rate has come close to potential support located at the previous highs in the area of 4.39-4.41. Additionally, a simple correction labeled as "abc" could appear on the chart.
If the reduction of the reference rate from 0.5 to 0.1 percent along with a rather interesting technical arrangement at the same time could affect the market, then the EURPLN exchange rate could move at least to the line drawn along the recent tops.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
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The Polish zloty surged against the euro yesterdayThe Polish zloty surged against the euro yesterday as European economies start to reopen once again. Bears are looking to reel in the pair lower to its support area by the first half of June. The zloty is currently trading at its highest level since March against the euro this Wednesday. The zloty has regained about half of its losses against the euro. With most economies in the region starting to gradually reopen, the currencies are also recovering. But looking at the performance of the Polish zloty earlier this month, it’s evident that it had a rough time trying to redeem itself against the single currency. Luckily, bears were able to gather momentum to eventually force the pair lower. It appears that the recent decision of the Hungarian central bank helped boosted the Polish zloty, giving it strength to rally against the bloc’s euro. It was reported that the National Bank of Hungary left its interest rates unmoved, supporting the forint and zloty in sessions.
Possible long on EURPLNUsing our supply and demand lenses, we have a strong imbalance in price causing a fresh demand zone on the weekly. High demand causes prices to rise.
We have to be patient to wait for price to retrace to the demand zone where we can look for buy opportunities.
EUR/PLN MULTI-TIMEFRAME ANALYSIS Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
EUR PL LONG SETUPEUR PLN - daily chart is a very strong base for bulls , cant see a reason for down movement here . i am looking for long position with stop loss under green line (support zone). Any daily close under that line will make me bearish for that EURPLN
SHORTI see two ways to go short. I like to be cautious, so I prefer to wait for the price to return to the resistance zone to start trading short.
SHORTThe price gives a triangle on the attached monthly chart and has now broken the top. It seems that the price wants to make a pullback. This possible monthly pullback is what I want to take advantage of to make a short negotiation in a smaller time frame.
EUR/PLN MULTI-TIMEFRAME ANALYSIS UPDATE!!!Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
eurpln buywe have a clear retracement of the last leg of the W pattern which indicates for good probabilities to the upside
The “unnecessary” rate cut from the Polish central bankThe broad weakness of the euro in the foreign exchange market today was seemingly brushed off by bullish investors. The news about the Polish zloty and the “unnecessary” rate cut from the Polish central bank has weakened the Polish zloty, preventing bearish investors from regaining their footing. The euro to Polish zloty trading pair will remain widely bullish thanks to the negativity regarding the zloty. According to a local report, an expert said that the previous rate cuts from the Polish central bank contributed to the strain felt by the zloty, which is now greatly undervalued against the Single currency. Apparently, the central bank has already slashed its official interest rates twice this year thanks to the pandemic. As of writing, the interest rates of Poland currently stand at 0.50%. And later today, the central bank is scheduled to unveil its interest rates decision which is widely expected to be left unmoved this May.
#EURPLN - Possible double topGonna risk a short, there is huge FVG below & possible double top forming, expecting at least a move down to golden pocket 0.618-0.65
i have set only 25% of bids set for now, res i will update once we get there, i don't follow FA but i know it plays a role so if you are not risk taker be patient
EUR/PLN breaking above historical high. The pair is in an important place, as it just broke through a historical high from 2011, which has been retested in 2016, but failed. Its 2020 and in a rapid impulse it cleared the High and pulled back for a retest where as you see, it created a solid demand zone where buyers step in.
As you know impulse- correction - impulse. The rest is on the chart.
There is a lot of negative sentiment now in Poland, as we are approaching a joke of a presidential election, that noone besides the ruling party wants, and I am expecting the PLN to loose value.
The green circles are areas where I will monitor the price action. In my opinion the high of 4,63 is going to be cleared, then I will analyze again.
eurpln looks bearisheurpln looks drop to confirming daily demand strong area. good time to set but limits.
EUR/PLN bulls are struggling to regain their momentum backEUR/PLN bulls are struggling to regain their momentum back in the sessions resulting in the pair to trade sideways in recent days. After the pair touched its resistance level in the past sessions, bears were able to tone down the momentum of bulls. Still, looking at the chart, it’s evident that bullish investors continue to hold on to their gains as the pair remains widely bullish. Since the second half of March, bulls have propelled the 50-day moving average farther above the 200-day moving average, signaling a promising bullish run for the pair in the near-term trading. Moreover, according to recent reports, for the first time in record, the National Bank of Poland has started to purchase government bonds. The quantitative easing worried the investors of the Polish zloty, leaving the currency volatile in the forex market. Reports say that a bond-buying operation worth PLN 30.6 billion has trigger questions and concerns for the Polish economy’s status.
EUR/PLN BULLLISH PENNANT IDEATake a look at the eur/pln to see a possible bullish pennant in consolidation, our strategy will consist in waiting the pullback before to place our long entry (also 4h chart relevant) .
Pay particular attention to possible different developments of the price action because of this technical figure might turns out to be a descendant triangle, for this reason will be essential to WAIT FOR THE PULLBACK.
Reasonable profit target at least the previous highs.
EUR/PLN MULTI-TIMEFRAME ANALYSIS Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
