We may see little lower then current 4.2600 level as we are below cloud resistance 4.2800 handle.
However, we got a low stochastic RSI and this suggest be careful as it can turn a bit.
The way the pattern shows, we may see 4.20-4.22 first before we see higher moving back towards 4.3500.
Strategy is BUY @ 4.2150-4.2250 and place stop-loss @ 4.1700 and profit...
The USDPLN had a nice run down and we are oversold right now. The DC also kind of suggesting little lower.
Based on that I suggest BUY current 3.9400-3.9550 for a move back to 4.0500 short-term. Stop-loss let's say below 3.9000 for now.
Priceline of US Dollar / Polish Zloty has formed a bullish shark and entered in potential reversal zone to hit the sell targets soon insha Allah.
I have defined the targets using Fibonacci sequence:
Buy between: 3.92700 to 3.90748
Sell between: 3.94348 to 3.98155
Regards,
Atif Akbar (moon333)
USD/PLN 1H Chart: Channel Up
The American Dollar is trading against the Polish Zloty in two week long ascending channel that started to form after the currency exchange rate changed a direction and jumped through the 55- and 100-hour SMAs to the top.
By the moment, it consists of four confirmation points, which means that it has reached maturity and might...
