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USDPLN

The zloty is deemed as undervalued in the foreign exchange markeUnfortunately for the Polish zloty, it won’t be heading on the same recovery track along with other currencies in the region. Thanks to the unnecessary rate slash from the Polish central bank, the zloty is deemed as undervalued in the foreign exchange market now. This leaves room for bullish investors to maneuver, pushing the pair higher back towards its resistance. Although the broader weakness of the US dollar is slowing down the pair’s rally. Nevertheless, the pair widely anticipated to reach its resistance once again this month. However, the question of whether the bulls could break through the resistance area remains standing as the greenback also faces several hindrances mainly regarding the increasing number of unemployed citizens. The United States’ private sector reported an employment change of -20.2 million yesterday. A drastic drop thanks to the coronavirus brought lockdowns that ultimately forced companies to cut workers.
Long
by Financebroker
USDPLN, H4 - inverted head and shoulders and triangleOn the H4 chart of USDPLN currency pair, we may spot a potential triangle and an inverted head and shoulders pattern. The triangle pattern has been broken to the upside along with the neckline in the H&S pattern. The textbook target for this pattern seems to be located near the previous high at 4,28 PLN. The nearest support could be located at broken resistance at 4,19 PLN. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
by Daniel_Kostecki
USD/PLN Possible 1200 pipsFor demonstration and educational purposes only. Price is in an overall downtrend and is pulling back, testing 61.8% key fib level twice, which is also a key zone in the market. If price rejects look for a great reward to risk ratio and possible 1200 pip move. Watch price action for clear evidence of rejection. Keep in mind also the strength of the dollar along the way, which would impact movement. Trade at your own risk and use proper risk management. For play by play action join my subscription zone at www.celestefrederick.com
Short
by mrsceleste
USD/PLN will continue to move higher in the following daysThe pair will continue to move higher in the following days after it broke out from a key resistance line. Poland agreed to buy $4.6 billion worth of US made F-35 fighter jets. This was amid the increasing gap in the relationship between Poland and Russia. Recently, the two (2) countries are engaged in a word war over who started the World War II. Polish Ambassador to Russia Georgette Mosbacher tweeted that Hitler and Stalin colluded to start WWII. Russian Parliament Speaker Vyacheslav Volodin responded by saying the tweet was an insult to Russians and Americans. The rift between the former USSR (Union of Soviet Socialist Republics) were favorable to Americans. In recent months, the United States has been building up the defense in the eastern bloc. This was after the US and Russia withdraw from the 1987 nuclear pact treaty, the INF (Intermediate-range Nuclear Forces). The US and Russia are also engaged in a Cold War in the Middle East.
Long
by Financebroker