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.
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