USD/PLN 技術分析 - USD/PLN 交易: 2019-11-06

Getting ready for a meeting of the Central Bank of Poland

The next meeting of the National Bank of Poland will be held on November 6, 2019. Will the USDPLN quotations continue growing?

On the daily timeframe USDPLN: D1 broken up the resistance line of the falling trend. Now it is growing as part of the correction. Various technical analysis indicators have generated signals to increase. Further growth of quotations is possible if the monetary policy of the Polish National Bank is relaxed.

• The Parabolic indicator gives an uptrend signal.
• The Bolinger bands widened, indicating high volatility. The bottom line of the Bollinger has a slope up.
• The RSI indicator is below the 50 mark. It has formed a divergence to increase.
• The MACD indicator gives a bullish signal.

The bullish momentum may develop if USDPLN exceeds the last upper fractal: 3.86. This level can be used as an entry point. The initial stop lose may be placed below the Parabolic signal: 3.8. After the opening of the pending order, the stop shall be moved following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place a stop loss moving it in the direction of the trade. If the price meets the stop level (3,8) without reaching the order (3,86), we recommend to cancel the order: the market sustains internal changes that were not taken into account.

Technical Analysis Summary