ANALYSIS ON EURPLN Welcome to my analysis - 30Min CHart - Interesting Point of interest In the EURPLN pair. - Price above 100/200 day EMA. - sell at top 4.29000 zone. - Expecting more downward momentum. - Watch 4.2500-4.21600 for take profit. - MACD showing bearish divergence Stay Tuned
RSI Divergence on EURPLN. Combining Friday & Mondays price action gives us a solid bullish hammer as an entry. Stop placed below recent low and limit placed at 50% retracement of recent move for 1:4.3 R:R. One slight drawback on this setup that isn't sitting right with me is the fact that the lower bollinger band has not been tested although the RSI dipping to 25...
The pair has discontinued its uptrend (RSI = 61.957, MACD = 0.014, Highs/Lows = 0.0151) this week having been rejected near the 4.4000 1D Resistance. This creates ideal conditions for a reversal towards the 4.31460 1D Support, essentially aiming to trade within a Rectangle pattern. We are short on this formation with 4.33200 - 4.31460 as the Target Zone. **...
Trading these odd pairings can be tough but with the ECB set to destroy the value of the Euro further in about a week and the algo triggering a short signal, might be worth a small play. Volume is starting to pick up, and momentum to the downside has plenty of room to run even if it's flattening out a bit today.
Why to * Nice reversal candle in 1D * NO surprise that EUR is in almost recession. * No surprise that East Europe and Poland is doing well * Many technical indicators showing good opportunity. * Very good R:R Why not * Politically Poland isnt the best friend with Europe union * Same as always - Trade wars
The pair should go up to the 0.618 fib level, then I will go short down.
Entry - technical algo short signal TP1 50% - 1ATR TP2 25% - 1st RVGI cross TP3 25% - 2nd RVGI cross SL 1.5 ATR - trail after TP1
Today is a holiday in the United States – July 4th Independence Day and considering this the market is thin and calm. We will analyze EUR/PLN 1DTF shows us a lot of consolidation, basically since about July of last year. We can observe a local dip down for the pair that started on May 22nd and this downtrend price reached May 2018 lows on July...