EURPLN approaching to a big resistence at 4.365 area. Will it break or not?
EURPLN appears to be headed up. The recent down-trend seems to have ended with a doji, followed by an up-week that had high volume and a stochastic buy signal.
I know I know it is bank holiday but what to do it is only looking bullish right now on h4 and i cannot miss this long here not that much fast move expecting from this but looking like it will continue to the top Showing signs of reversal here let us see Trade Safe
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A potential short in EURPLN, after not negative outlook from the rating agency, published on last Friday,
Massive Support Levels 4.24 , 4.20, 4.15, 4.10 . waiting for a reversal pattern to contniue long entry . RSI ~30
EURPLN next sell-off coming - S&P cuts rating on Poland's
The pair is currently bullish and will soon reach a level that it tested back in the mid of December. If it breaks this level, it may head towards the next Fib level (4.438). Note that the cloud is steeper in this new attempt and the PA may have enough force to break through. In this case, a long entry could be foreseen.
Renko is fine to check support and trend as it removes time from an already too complex equation. For the EURPLN pair, we clearly see the supporting diagonal for the last 8 months. We also observe that the bounce of this summer is repeating right now with a similar intensity. By copying the pattern of this summer, we may expect a small correction towards the (C)...
I do not trade this pair, but as a educational purpose I see this pair going down in upcoming weeks. I can be of course wrong, but even that if I have to trade it I would consider only to trade it by going to the lower time frames and looking for opportunity to sell. On the chart we have cluster from Fibonacci lines and also we have similar corrections. There is...