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POLISH ZLOTY / EURO

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PLNEUR trade ideas

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. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
by Daniel_Kostecki
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.
Short
by Financebroker
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.
Long
by Financebroker
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.
Long
by lukaszl
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.
Long
by Financebroker
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.
by VittorioDestro1995
5 PLN coming soon!Hi All, I think we will see the Euro trading at the price of 5 PLN until the end of this year. Here is WHY: From a fundamental perspective: Capital in times of panic and distress migrates from emerging markets (Poland is still regarded as such by many investors) toward the US dollar (and other safe currencies such as: JPY, CHF and EUR) -which is then converted into US treasuries. What is more the Polish Central Bank is launching his own expansionary monetary policy in response to the Corona Crisis. It is not only providing extra liquidity to the banking sector through repo transactions (up to 10 billions PLN a week), but it also lowered the minimum reserve ratio from 3,5% to 0,5%! This means the PCB will flood the banking sector with funny money which will eventually spill into the market. The PCB will increase it's balance sheet by about 200 billions , which will be almost 9% of the Polish GDP. In the US Q1 had about the same proportions! This is BIG! What is more the current interest rate in Poland is at it's historical low: 0,5% which combined with an accelerating inflation (around 5%) doesn't make the polish bond market a tempting destination. During the next waves of market panic the polish Zloty will face a strong devaluation against major currencies. From a technical perspective: We just broke through a multi-year consolidation triangle. We completed a 5 Elliot Wave pattern inside it and exploded to the up-side with an enormous volume (green cyrcle) in mid-March. This is extremely bullish! Prepare for another bull run on EURPLN. My target: 5 PLN.
Long
by lucamodena
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