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I believe theres a potential short position till 3.54 area as our wave c of (B) is incomplete.
Short selling opportunity in Usd/ PLN
Sell at 3.74379 --Sl 3.76595 and tp 3.70161
The US Dollar has been depreciating against the Polish Zloty since the middle of August after the currency pair pullback from the upper boundary of a descending channel at 3.8410.
The exchange rate was stranded between SMAs during the morning hours of Monday’s session. The 200-hour simple moving average was providing resistance at 3.6996, while the 100-hour ...
H4|USDPLN EW ANALYSIS.
This pair lookS so much interesting....the is still more room to go bearish
On the hourly chart of USDPLN, it seems that the price is starting a new Elliott cycle down. Also, a bearish fractal was formed, which could be an optimal level to enter the short position.
Trade the set up.
USDPLN is on a 1D Channel Up with the currently neutral RSI = 49.701, CCI = 48.079 indicating that a Higher Low is appraoching (3.68 - 3.69). The low gradient allows for a long to be taken on current levels with TP = 3.80148. Projected Higher High = 3.8600.
holding onto it, high reward low risk
green area - accumulation
Taking another opportunity to sell USDPLN:
(1) oversold stoch
(3) Negative RSI
Short-tern , intraday, trade...
Long-term we want to sell the US Dollar whenever a hort-term opportunity arises in the fundamental direction; well, at least, that is my trading style.
Still also bearish on USDJPY long-term.
EURPLN reached strong resistance around 4.25 so that should support long on USDPLN. Key level for next 24-48h is 3.70. If break, next is 3.76 and perfect S H S.
We think the polish zloty has reached a significant resistant level which has been very profitable in the past.
As always do not forget to put in your stop loss. The only certain thing in this market is uncertainty.