EURPLN has turned from a Head and Shoulders on 1W (neutral STOCH, ADX, CCI, Highs/Lows) to a Rectangle on 1D (ATR = 0.0187). Take sideways scalps within the 4.3400 Resistance and the 4.2655 Support.
The EUR/PLN exchange rate is trading in two prominent channels. The most senior pattern is an ascending channel which was formed in December 2017, while the more junior one has been guiding the Euro since the beginning of June.
The pair reversed from the senior channel on August 17. It did, however, fail to accelerate, being restricted by the junior channel and...
EURPLN has eventually rebounded on the same distance bar from High to Low and is in the process of forming the Right Shoulder of the 1W Head and Shoulders pattern (RSI = 57.116, CCI = 10.8781, Highs/Lows = 0.0000). 4.3273 is a valid point to enter an additional short as the top is projected to be near 4.3400. A conservative TP is 4.25796 with the extension on the...
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 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...
The Euro has been trading in an ascending channel against the Polish Zloty since late December, 2017. The most recent test of this senior pattern occurred mid-June when the pair reversed from the 4.26 area. It has since been guided by the 55– and 100-hour SMAs in a junior channel up.
Technical indicators on longer-term time-frames demonstrate that there is still...
The price is rising inside a clear 1D Channel Up (RSI = 60.030, Highs/Lows = 0.0211). The standard TP is the previous High = 4.34099. The next Higher High however is projected at 4.3700.
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...
The EUR/PLN exchange rate has shown no significant changes to its movement during the past two weeks, as it has remained trading in the 4.24/29 trading range.
This movement sideways has occurred near the upper boundaries of both long– and medium-term channels. This situation demonstrates that the pair could be ready to abandon its four-week surge and turn to the...
The Euro has depreciated substantially against the Polish Zloty since March 21. The pair reversed from the senior channel located near 4.24 during the given session and began trading in a new channel down.
The pair’s trading range within this pattern has diminished, as it has failed to reach its bottom boundary for the past two weeks. This suggests that the Euro...
The common European currency has shown solid growth against the Polish Zloty since February 20. Bulls have managed to push the rate 2.63% higher during this time, thus reaching a four-month peak of 4.2420 earlier today.
The pair’s current movement has been confined in an ascending channel. The Euro, however, has failed to maintain the steep positioning and has...
PLN has come under pressure after the National Bank of Poland reiterated its dovish stance at its policy meeting yesterday. Governor Glapinski suggested that the NBP may raise rates at the end of 2019 at the earliest, but current projections show no reason to raise rates before the end of 2020. This comes after the NBP revised its inflation forecasts marginally...
Following a rebound from a 2,5-year low of 4.1317 late in January, the EUR/PLN exchange began moving higher in an ascending channel. This junior pattern proved to be strong enough to allow for a breakout of the dominant five-month channel last week (dashed lines).
Technical indicators suggest that some upside potential still exists in the market. It could be...
The Euro has weakened notably against the Polish Zloty within the previous four months. During this time, the pair has diminished its trading range and formed a falling wedge pattern.
The most recent test of its upper boundary started on January 19. The rate remained near this line for several sessions, but eventually fell down to the weekly S3 near 4.1350. In...
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 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...
The Euro’s movement against the Polish Zloty has been guide by several patterns since mid-September. The dominant one is a steep channel down. Its latest wave lacked direction, thus it could be characterized as a period of consolidation as a result of which another channel was formed.
Meanwhile, the Euro bounced off the senior channel last week and has since...
