Ride the trend to the upsideI was gone for quite some time, will post more charts now. Here's what I see for this pair. The MM needs to complete the move with one remaining swipe to the upside.
💡USD/PLN Long opportunity Hi traders. On this pair we are currently seeing a breakout. If the breakout holds we are able to take a position going long. USD Is showing signs of strength across most currencies.
USDPLN Breakthrough: Rally Ahead or Resistance at Play?The rising USD against PLN has finally broken through its descending trendline. This strength in the dollar can be attributed to rising bond yields (amid an unmoved Federal Reserve) and the prevailing economic challenges in Poland and the European Union (recessions).
On a technical note: The USDPLN
USDPLN can this go lower ?USDPLN created a nice double top and is now on track to the 38.2% FIB, let's see if we get a pullback from there to give the shorts a discount to go short again. My take profit target would be the bottom of wave 4.
Trading Signal: FOREX Buy Dollars Sell PLN (USDPLN) breakout froUSDPLN pair broke out from downtrend 2 weeks ago and continues to go up.
Entry Point: Consider entering a long (buy) position in USDPLN once the price breaks first resistance at 4.15300 marked on a chart.
Stop Loss: Place a stop-loss order at 4.11500.
Take Profit Targets:
Target Price 1: Set the
USDPLN Sell 15 Minute Confirmation The 13 EMA has Broken above the 5 EMA on the 4 Hour Time Frame
The Fast MA on the Trade Development Index has already broken the 20 implying that the currency pair was over bought
Fib Retracement confirms a target to the Short side
Take Profit is Derived from Pivots
USDPLN: Hidden Bullish Divergence at Channel Demand LineUSDPLN on the Higher timeframes has generated some PPO arrows and Hidden Bullish Divergence at the Demand line of an Upwards Slopping Channel, which also happens to align with the 200 SMA. If it can hang on from here, I think it will make a run back up towards the top of the channel.
Weekly chart is oversold Now with the oversold conditions at hand down the road a long position can be forecasted from this point on
USDPLN - Bearish - Fib and TrendlineFrom trend line in Daily chart it signaled that bearish trend might continue as price is testing Fib 0.382 level and may continue to move downward and breaks LL 3 level.
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