Kumowizard
Long

EURPLN - IS IT A BOTTOM BUILDING?

85 0 0
It looks like EURPLN             slowly building a bottom. 4 Hrs chart has established a small rising trend channel. Px             action suggests, that from time to time some strategic buyers step into the mkt. Chart look supportive for long position, so it might be a buy on any dips, to accumulate longs. Size up with a break above 4,1700. Stops to/below 4, 1400             - 4,1450 area. I have a feeling it is trading this low only because of some end of month "massage", and might break out on top side next week. Anyway, if other CEE countries (Czech, Hungary) are fighting for constant ccy devaluation, why would Poland like to see a relatively strong Zloty? Anyway, as usual, just try to trade the highest probability that the chart suggests, with the best possible risk-reward entry.
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