The outflows from Poland have been staggering to say the least, large sharks abandoning ship before the storm reaches shore. Notice how the NBP (National Bank of Poland) has been dovish even though inflation ticks higher ...everything is fine right...
We traded the PLN devaluation versus CZK previously, now I prefer EURPLN longs as my 'weapon' of choice. There is room for a leg into 4.3075x and 4.333x as the extension.
Thanks as usual for keeping the support coming with likes, comments and etc. An important round of G10 and EM macro FX charts coming over the next few sessions ...
@khurshnarm NBP pressing the override button and staying very dovish despite inflation ticking higher...remember this is only s/t sentiment trading before markets start to trade the facts (hard data) again; models are picking up that PLN will be supported in the m/t from the upcoming CHF outflows (positioning and balancing for the coming iteration of losses in Suisse mortgages).