The idea is very simple... Despite it having a significantly higher interest rate than the US, capital isn't flowing in the country. Poland is in a very tough place right now, as it has a relatively small economy and doesn't have a currency that is widely used. Europe overall is a big mess, and the PLN is affected by the EUR too. The ECB still has rates at -0.5%...
The common European currency has been declining since the start of July against the Polish Zloty. The event from a technical perspective began due to the currency rate meeting the upper trend line of a dominant ascending channel pattern. The bounce off resulted in the formation of a descending medium term pattern, which is likely going to guide the rate...
Its 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 US Dollar recently reached the lower trend line of a long term descending channel against the Polish currency. As a result the pair has already formed a short term ascending channel pattern.
However, the channel has met with fierce resistance in the form of the monthly S1 at the 3.3760 mark and the 38.20% Fibonacci retracement level, which is located just...
The large fundamental changes in the strength of the US Dollar have caused a massive change of direction on the USD/PLN currency pair’s charts. Namely the decline in the US equity markets and the shift in the US monetary policy combined broke the resistance lines of all of the dominant patterns of the USD/PLN.
Due to that reason Dukascopy analysts set Fibonacci...
Welcome.
New market cycles just begin.
Don't let those corrections make You wrong.
There is huge possibility that We enter bull market in alts again.
IMO the price could retrace a bit to broken resistance, so
1. Entry : 3920 - 4000 sat
2. Stop loss : under 4000 sat
3. Take profit : 11300 sat (near 300% earnings)
Falling wedge pattern says 11.300 target, but...
The US Dollar is surging against the Polish Zloty in a highly volatile manner. The pattern, which is considered the junior one, has had its both trend lines touched even during a daily timeframe.
However, recently the currency exchange rate has been beaten down by a resistance cluster, which does not include the upper trend line of the ascending channel. Due to...
The common European currency recently bounced off a dominant pattern’s resistance level against the Polish Zloty.
In the aftermath of that event the currency pair began to plummet until it reached down to the combined support of the monthly PP and the lower trend line of the junior channel up pattern near the 4.2150 mark.
However, in accordance with the larger...
All details at chart in polish. Green - bullish, red - bearish, blue - neutral.
Czy kupowac, nie wiem, ale powoli tworzy sie klimat do wzrostu. Powodzenia. :)
