USDPLN trade ideas
USD/PLN 1H Chart: Short-term channel in sightThe US Dollar has been depreciating slightly against the Polish Zloty since the beginning of October. This movement has been bounded in a descending channel.
Given that the rate is supported by the 100– and 200-hour SMAs, currently located near 3.740, it is likely that the pair goes upside within following days. If given channel does not hold, a breakout north occurs soon. A potential upside target is the upper boundary of a medium-term channel located circa 3.8400.
Otherwise, it is expected that the pair makes a reverse and aim for the lower channel line located circa 3.6800.
USDPLNI believe theres a potential short position till 3.54 area as our wave c of (B) is incomplete.
Short selling opportunity in Usd/ PLN 8 Oct 2018Short selling opportunity in Usd/ PLN
Sell at 3.74379 --Sl 3.76595 and tp 3.70161
USD/PLN 4H Chart: Stranded between SMAsThe US Dollar has been depreciating against the Polish Zloty since the middle of August after the currency pair pullback from the upper boundary of a descending channel at 3.8410.
The exchange rate was stranded between SMAs during the morning hours of Monday’s session. The 200-hour simple moving average was providing resistance at 3.6996, while the 100-hour moving average was providing support at 3.6828.
A breakout through the upper boundary of a descending channel is likely to occur within this session. If this breakout occurs, the next target for the currency exchange rate will be at 3.7158 during the following trading sessions.
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.
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.
