Selling USDPLNOn the hourly chart of USDPLN, it seems that the price is starting a new Elliott cycle down. Also, a bearish fractal was formed, which could be an optimal level to enter the short position.
PLNUSD trade ideas
Low paced Channel Up. Long.USDPLN is on a 1D Channel Up with the currently neutral RSI = 49.701, CCI = 48.079 indicating that a Higher Low is appraoching (3.68 - 3.69). The low gradient allows for a long to be taken on current levels with TP = 3.80148. Projected Higher High = 3.8600.
USD/PLN 1H Chart: Pair lingers near channel lineThe US Dollar began accelerating against the Polish Zloty mid-April. Following a test of the 3.35 level, the rate breached the prevailing long-term channel and shot up to the 3.75 area. This movement has been bounded in a new senior channel. Its upper boundary is located at the aforementioned 3.75 mark.
By mid-Monday, the pair was testing its other boundary circa 3.62. Short-term technical signals point to further advance. The nearest level of strong resistance is 3.67 where the 38.20% Fibo and the 100– and 55-period (4H) SMAs are located. A successful breakout of this area should push the pair up to 3.80 or even 3.90.
In case this mark remains intact, it means that bears would be ready to take the dominant hand within the following weeks. As a result, the current senior channel should be breached to the downside just to allow the Greenback to approach 3.55/00.
Sell USDPLN: Fundie-TechTaking another opportunity to sell USDPLN:
(1) oversold stoch
(2) Negative<MACD
(3) Negative RSI
target 3.00
USDPLN: Short-termShort-tern , intraday, trade...
Long-term we want to sell the US Dollar whenever a hort-term opportunity arises in the fundamental direction; well, at least, that is my trading style.
Still also bearish on USDJPY long-term.
Opportunity for LONG on USDPLN
EURPLN reached strong resistance around 4.25 so that should support long on USDPLN. Key level for next 24-48h is 3.70. If break, next is 3.76 and perfect S H S.
UsdPln short term bullish set upWe think the polish zloty has reached a significant resistant level which has been very profitable in the past.
As always do not forget to put in your stop loss. The only certain thing in this market is uncertainty.
USDPLN Buy IdeaUSDPLN Buy Idea @Daily Demand Zone (3.49226 - 3.46523)
Buy Limit: 3.49326
Stop Loss: 3.45940
Take Profit: 3.55816
Look for shorts in USDPLNIts OK to short USDPLN as it reached the fib arc level and is forming double top on 4 hours chart. Price will do the Elliot 1-5 wave cycle all the way down to the 0.5 fibonacci level - Gann angle, where it will make Elliott ABC correction and then will go up again...Watch closely the previous patterns as its again repeats the previous moves that I highlighted. The first Elliott wave should be to 0.38 fib level 3.63684 (first TP)
USDPLN Big fall may be comingThere is probably a change of hands.
Bears seem to have taken control.
Watch price action before taking any action.
USDPLN: Shorting into 2019The long-term outlook for USD/PLN bids me to short into 2019 as the USD begins to continue is long-tern, secular, bear market after a 4 month retracement.
The volume also suggests a bearish outlook going forward.
