USDPLN trade ideas
USDPLN-BUY strategyWe may see little lower then current 4.2600 level as we are below cloud resistance 4.2800 handle.
However, we got a low stochastic RSI and this suggest be careful as it can turn a bit.
The way the pattern shows, we may see 4.20-4.22 first before we see higher moving back towards 4.3500.
Strategy is BUY @ 4.2150-4.2250 and place stop-loss @ 4.1700 and profit order 4.3275 for now. Please note overall we are medium-term down ward path I feel.
USDPLN-SELL strategyThe pattern looks good for a move lower with limited upside risk for now (unless something drastic will happen).
The turning of buying pressure is changing and we are peaking on that front. This suggests the following strategy:
SELL current 4.44-4.45 and place stop-loss above 4.60. The profit order can be somewhere 4.25 or lower. I see in fact larger adjustment downwards.
As a note, the pair should benefit from extreme RUB strength, which I cannot explain.
USDPLN-SELL strategyWe are showing some topping formation and also we are slightly overbought and stochastic is negative.
Strategy is SELL current 4.4200-4.4300 but place a stop-loss above 4.5500.. as we cannot be sure what may happen on the crisis front.. careful on this pair...
Profit order I feel 4.2500.
Spotlight on the currencies of Ukraine’s neighboursThe USD has lived up to its classification as a safe-haven currency since the beginning of Russia’s invasion of Ukraine. Other safe-haven currencies, such as the Swiss franc and the Japanese yen, have failed in this respect. Both have lost strength over the past month and a half. The Swiss franc index has fallen 1.2% over this time, while the Japanese yen has plummeted 8.6%.
The physical approximation of Switzerland to the Ukrainian border might explain why the Swiss franc has failed to live up to its safe-haven status. The same reasoning cannot be applied to the yen as Japan has a 5000-mile wide buffer between it and the locale of the conflict. Nevertheless, Switzerland is not the only European country that has been affected by the Ukraine invasion, many of them being direct or close neighbours of Ukraine.
Spotlight on the currencies of Ukraine’s neighbours
The currencies of several close and bordering countries of Ukraine have followed a similar pattern since Russia entered Ukraine for its ‘special military operation’ on 24 February 2022.
The Czech koruna, Polish zloty, and the Hungarian forint each spent the period of 24 February until the 7 March considerably weakening against the US dollar. The US dollar strengthened in a range of 9% to 14% against these pairs. The two weeks before 24 February saw gradual but moderate de-risking in these European currencies, with the US dollar gaining in the range of 2% to 3.5%.
Strangely, significant movement was seen on the bookends of this period, on the 24 February, 6 March, and 7 March. All the stranger for the very sharp reversals that took place on 8 and 9 March. This may have been when it became evident that Russia had botched its invasion. The reversals that occurred were not entirely successful in erasing the losses the currencies made since 24 February. The Czech koruna (USDCZK) has fared the best during this affair so far, weakening by only -3% and followed by the Polish zloty (USDPLN) at -4.9% and the Hungarian forint (USDHUF) at -7.8%.
USDPLN-BUY strategyThe pair has corrected from the highs, and this provides an opportunity to go LONG instead.
The current 4.20-4.2100 is good BUY level for a move back towards 4.4500 or higher. The stop-loss should be placed below the cloud 4.1300, and perhaps little lower below 4.1200 for now.
Fundamentally we are close boarder with Ukraine and anything can happen. That is why the USDPLN will be well supported on the bid side is my personal view.
USDPLN-SELL+++A friendly connection highlighted the USDPLN to be a SELL, and yes I agree with him.
The RSI is very overextended and it looks we should have a SELL current 4.5500 for a correction back towards 4.25 for now.
I am not committing to it as I already have a number of items on the board, but I strongly agree with this one being a short.
the leverage can be a little higher as it's already quite extreme.
Ichimoku:USDPLN The last failure was in the link.if you like my strategy, please strictly control the single loss between 1-2%. We have played many games in the market. The investment itself is very low-risk, and irrationality is the biggest risk.
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Quality needs your long-term follow-up verification.
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Ichimoku:USDPLN sharp drop is mentioned.Ichimoku:USDPLN sharp drop is mentioned.
if you like my strategy, please strictly control the single loss between 1-2%. We have played many games in the market. The investment itself is very low-risk, and irrationality is the biggest risk.
My trading behavior report is available at the link below.
I can analyze the market in a short time, involving foreign exchange, encrypted currency, commodities and stock indexes.
Quality needs your long-term follow-up verification.
Your support and comments are the driving force of my update! and Thank you
USDPLN- SELL strategyIt looks like viewing THREE BLACK CROWS on candle stick pattern and we also have good cloud resistance 4.0700 above.
The direction seems to go towards 3.9500 at a minimum.
the strategy is SELL current 4.0300-4.0400 and place stop-loss 4.0775 for now. The profit order to be 3.9550.