Will the USD/PLN quotes grow?

William Arsn

Recommendation for USD/PLN: Buy

Buy Stop : Above 3.76

Stop Loss : Below 3.61

Indicator Value Signal
RSI   Buy
MACD   Buy
MA(200)   Neutral
Fractals   Neutral
Parabolic SAR   Sell
Bollinger Bands   Neutral

Chart Analysis


On the daily timeframe, USDPLN: D1 has been traded narrowly for a month. Now it is close to the resistance line of the short-term downtrend. It must be broken upward before opening a position. A number of technical analysis indicators generated signals for further growth. We do not exclude a bullish movement if USDPLN rises above the last upper fractal, Parabolic signal and upper Bollinger band: 3.76. This level can be used as an entry point. We can place a stop loss below the last bottom fractal, the low since June 2018 and the lower Bollinger band: 3.61. After opening a pending order, we can move the stop loss following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (3.61) without activating the order (3.76), it is recommended to delete the order: market sustained internal changes that were not taken into account.

Fundamental Analysis

Business activity in the Polish industry slowed down in August. Will the USDPLN quotes grow?

Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.

Source Article

Next Post

It’s time for the UK to set its financial services sector up for success

© Provided by City AM With the Brexit transition period drawing to a close, the United Kingdom has a unique opportunity for legislative and regulatory reform.  For our financial services sector, the Treasury’s review of the regulatory framework presents a fantastic chance to set the UK up for another decade […]