USD/PLN gearing towards the South
Why I belief like this.
Plan A
As the EURO is getting ready to go North. The EURO is a leading indicator for the Zlotty. So fundamentally the USD/PLN has to go down.
The Trendline which had acted as Support has been broken and is acting as resistance.
Remember their are always 3 scenario's how a trendline can play out.
The you see some rejection allready, for first target (I put a flag a a symbol, the first green barrier will stop price slightly.
Plan B
If none of this plays out, and EURO has gone south and became bearish, go long on PLN. As an extra the overnight cost "swap" are favourable for a long.
Plan A
As the EURO is getting ready to go North. The EURO is a leading indicator for the Zlotty. So fundamentally the USD/PLN has to go down.
The Trendline which had acted as Support has been broken and is acting as resistance.
Remember their are always 3 scenario's how a trendline can play out.
The you see some rejection allready, for first target (I put a flag a a symbol, the first green barrier will stop price slightly.
Plan B
If none of this plays out, and EURO has gone south and became bearish, go long on PLN. As an extra the overnight cost "swap" are favourable for a long.
Note
Plan B played out.A safe area to get out is 3.79800
If you check EU means it went south (24-1-2019)
Your welcome and hope you enjoyed the pips gained from the Analyse
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.