EUR/PLN Technical Analysis | EUR/PLN Trading: 2022-12-07 | IFCM India
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EUR/PLN Technical Analysis - EUR/PLN Trading: 2022-12-07

EUR/PLN Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 4,73

Buy Stop

Below 4,64

Stop Loss

Mary Wild
Mary Wild
Senior Analytical Expert
Articles2058
IndicatorSignal
RSI Buy
MACD Buy
MA(200) Neutral
Fractals Neutral
Parabolic SAR Sell
Bollinger Bands Neutral

EUR/PLN Chart Analysis

EUR/PLN Chart Analysis

EUR/PLN Technical Analysis

On the daily timeframe, EURPLN: D1 is trying to return to the long-term growing channel. Before opening a position, he must break up the 200-day moving average line. Some indicators of technical analysis have formed signals for a further increase. We do not rule out a bullish movement if EURPLN rises above the latest up fractal, Parabolic signal, upper Bollinger band and 200-day moving average line: 4.73. This level can be used as an entry point. Initial risk cap is possible below the last down fractal and lower Bollinger band: 4.64. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (4.64) without activating the order (4.73), it is recommended to delete the order: the market is undergoing internal changes that were not taken into account.

Fundamental Analysis of Forex - EUR/PLN

Bank of Poland may keep the rate. Will EURPLN quotes go up?

The next meeting of the Bank of Poland (Narodowy Bank Polski, NBP) will take place on December 7th. According to some forecasts, he can keep the rate at the current level of 6.75%, despite the relatively high inflation in November of 17.4% y/y. A relatively low rate can accelerate the growth of Polish GDP, but at the same time weaken the Polish zloty. In the 3rd quarter of 2022, it amounted to +3.6% y/y. This is the lowest level since Q3 2021, when GDP was negative (-2.5% y/y). ECB officials are expected to make speeches this week that could influence the dynamics of the euro. Recall that the meeting of the ECB will be held on December 15.

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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