Closing price (black) is near horizontal level price, EMA 10 Close Price, EMA 20 Close Price, and a Previous Pivot Point Price; Enter a long position. The rejection candlestick open and close price has a short distance.
It looks like PLN will get stronger despite the inflation.
Isn't it perfect to get everyones attention to growing money supply (inflation) and at the same time make the currency stronger?
How is that possible? I am not a fundamental analyst so i can't tell you how the mafia operates but one thing for sure is the less people know, the more money for those that call...
The market has retraced in a inside a channel till the 0.618 fib level and created a double top.
Now the price is moving down and if the price will manage to break the channel and consequently will break the 4h structure we can look for a nice short order according with our strategy.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please...
EURPLN is still within a 1W Rectangle (RSI = 49.997, ADX = 15.208, CCI = -49.2070, Highs/Lows = 0.0000) trading sideways within the 4.2660 Support and 4.34100 Resistance. We continue buying near the Support and selling near the Resistance.
EURPLN has switched to a Channel Down on 1D (RSI = 35.852) and despite the slow pace (MACD = -0.016, Highs/Lows = -0.0192, B/BP = -0.0216) can extend (gradually) to a new Lower Low at 4.2200. This is our TP where a short term consolidation is expected (oversold already on STOCH = 19.416, STOCHRSI = 6.677, Williams = -92.202).
Both TP = 4.34099 and 4.3700 got hit on EURPLN as the price aggressively increased inside the 1D Channel Up. This pattern is still intact and as you see it is testing the lower supporting trendline. With the 1D RSI = 48.813, MACD = 0.004, Highs/Lows = -0.0129, we can assume with a certain degree of technical certainty that the new Higher Low has been placed. The...
The appreciation of EUR/PLN has been guided by a medium-term rising wedge since early April. This has allowed the pair to strengthen by 4.50% up to its one-year high of 4.34 reached on May 30.
It seems that this pattern might soon reach its maturity, thus pointing to a soon breakout. From technical point of view, the bottom boundary of this wedge should...
EUR/PLN has been constrained by a channel down since mid-September. Given that the Euro has been trading with diminishing trading range, a falling wedge would be more precise depiction.
The bottom line of this pattern was tested last week when the rate reversed from the 4.1425 area. Its subsequent movement was tended northwards within a narrow and steep...
The EUR/PLN exchange rare is trading in two opposing channels. The senior pattern is a six-week channel down, while the pair’s movement during the past week-and-a-half has been guided by an ascending channel.
The rate is currently regaining some lost positions and moving closer to the upper boundary of the senior pattern.
On October 3, the Euro beached a...
I believe we got a trustworthy reverse. The resistance at 4.29275 have been tested before. It broke out yesterday of the reverse cup, and is heading north of the 10EMA. Volume haven't picked up yet, so be aware it might do a drastic spike down over the next days, before continuing up. I have a bigger SL because I plan to hold this one for some time. For good...
