I usually keep these a bit formal but this looks like a safe long position , HOWEVER , i could be wrong and it could completely tank *little chance of this happening tho* its respecting the trendline pretty well
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
The Euro has been appreciating gradually against the Polish Zloty since the middle of August. This movement has been bounded in an ascending channel.
As apparent on the chart, the currency pair is trying to surpass the resistance cluster formed by a combination of the 55-, 100-, 200-hour SMAs, the Fibonacci 38.20% retracement, the weekly PP and the monthly S1...
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.
- Ichimoku setup has bullish bias. Froward Kumo is positive. Caution: cloud is still very thin!
- Price action: pull back to bullish support at 4,3050
- EWO is positive
- Watch Heikin-Ashi quantification tools (haDelta+ and haOscillator) for early signals of change in momentum
4,2975 - 4,3150 seems to be a good risk/reward buy zone. Initial stop at 4,2760 vs...
Poland economy always showing interesting things can grow huge in their language it means gold currency Eur-Zloty 1 Eur - 6.50 zloty or more it means good strategy to invest as always we can see it.Poland preparing become new China time will show.
The EUR/PLN currency pair has been trading in symmetrical triangle since the beginning of July. Also, the pair reversed from the upper pattern line located near 4.3282.
Given that currently the rate is pressured by the 55-, 100– and 200-hour SMAs, it is expected that the pair goes downside. A potential target is the lower triangle line located circa 4.2800....
The price of the parity is trading inside of the symmetrical triangle formation. Once it reaches the tip of the triangle, it will more likely break the formation to the up. 4.4140 level will be our strong resistance.
At the H4 chart of EURPLN, the price has started a new bullish trend: above the Alligator indicator and AO above the zero line. In addition, it seems that the instrument is in a bullish Elliott cycle, more precisely, at the beginning of wave 3.