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POLISH ZLOTY / U.S. DOLLAR

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PLNUSD trade ideas

USD/PLN will continue its uptrend movementThe pair will continue its uptrend movement towards its previous high. Poland is set to publish its fourth and final quarter gross domestic product (GDP) growth for fiscal 2019. Analysts anticipate the country to post lower figures following a downgrade from Bank Polski. State-controlled PKO BP said it is expecting the country to grow 3.5%, down by 0.2% from earlier forecast. The reason for the revised growth forecast was due to rising inflation. In January, Poland had a 4.4% interest rate which is higher than the inflation target of 2% to 4%. The figure is the highest recorded data since 2013. The country also came under pressure from the withdrawal of the United Kingdom from the European Union. Poland is among the countries who benefited from the EU budgets. The withdrawal of the UK, however, will leave a hole in the budget. This could spell trouble for the Polish economy. Meanwhile, America will continue its longest economic expansion in history.
Long
by Financebroker
USD/PLN Possible 1200 pipsFor demonstration and educational purposes only. Price is in an overall downtrend and is pulling back, testing 61.8% key fib level twice, which is also a key zone in the market. If price rejects look for a great reward to risk ratio and possible 1200 pip move. Watch price action for clear evidence of rejection. Keep in mind also the strength of the dollar along the way, which would impact movement. Trade at your own risk and use proper risk management. For play by play action join my subscription zone at www.celestefrederick.com
Short
by mrsceleste
USD/PLN will continue to move higher in the following daysThe pair will continue to move higher in the following days after it broke out from a key resistance line. Poland agreed to buy $4.6 billion worth of US made F-35 fighter jets. This was amid the increasing gap in the relationship between Poland and Russia. Recently, the two (2) countries are engaged in a word war over who started the World War II. Polish Ambassador to Russia Georgette Mosbacher tweeted that Hitler and Stalin colluded to start WWII. Russian Parliament Speaker Vyacheslav Volodin responded by saying the tweet was an insult to Russians and Americans. The rift between the former USSR (Union of Soviet Socialist Republics) were favorable to Americans. In recent months, the United States has been building up the defense in the eastern bloc. This was after the US and Russia withdraw from the 1987 nuclear pact treaty, the INF (Intermediate-range Nuclear Forces). The US and Russia are also engaged in a Cold War in the Middle East.
Long
by Financebroker