EUR PLN - daily chart is a very strong base for bulls , cant see a reason for down movement here . i am looking for long position with stop loss under green line (support zone). Any daily close under that line will make me bearish for that EURPLN
Out of the exhaustive list of price-influencing factors, one which seems to have credible correlation is the grain index & strength of PLN vs EUR. Based on recent increases in demand for grain one would lean towards shorting EUR.
Please note, the majority of the analysis charts I produce are experimental and should be viewed with scepticism & caution.
My Original analysis was a short looking from the daily and smaller time-frames but after looking at the HTF's numerous times I now believe that is it a LONG.
The General trend on the HTF is Bulls, have also seen multiple reversal wicks whilst price moves sideways stuck in a range, as multiple pushes by sellers to push price beneath the support line become...
Hey guys. Heading into new trading week we have a nice opportunity to go long on EURPLN. The red trendline has been supportive for all recent reversals to the upside since beginning of the 2016. The same thing can be said about 100 bar Weekly Moving Average. Today we can see a hollow candle being formed on daily char. My idea would be entering now with SL at 4.25...
We have a very nice trendline that price bounced off on multle occasion. A great oportunity to go long. Whatch the Moving Averages as always, stop loss at around 4.41 - 4.415 for high risk reward ratio. Good luck.