The bears took initiative on the white candle on the chart with large volume. There wasn't follow up by bulls after it, so there was much more selling.
The buyers try to fight today, but they lost (with the help of macroeconomic data).
Target of this short is 3.85
I don't think it will go lower, because of new government politics, because of that this...
Discounting of elections began 10 days before them. On the chart we can see, that Polish currency start to quickly depreciate against Dollar. Pretty much everyone knew the main opposition of Civic Platform (PO), the Law and Justice (PiS) will win. The one of the major unknows was, whether they will have majority of parliament seats to rule alone. After the...
Like we see moment is not so strong.. so we can think that we are at the top.. In my opinion it's nice opportunity to go short. Risk to reward is 2.53.
A bit exotic pair, but if you bet on EUR rally, this one is highly correlated - in case of Euro rally USDPLN always falls badly. I prefer short positions due to very good swaps.
Friday's rally rejected precisely @0.236 retracement fibo level of last big rally and by falling trendline. Should reach again at least opposite end of rectangle and 0.5 Fibo level (TP1)...
The US dollar bull ends here. From now on emerging market currencies will rise, especially Polish Zloty.
Poland is experiencing quite robust growth despite deflation and starting to have ongoing positive trade balance. The country is one of the biggest producer of copper and silver in the world and have fairly sound banking sector. Polish Zloty should be one of...
