“A glimpse at PLN” is the series of analysis created in cooperation with the InterTrader broker. You can track all these analysis every Tuesday and Thursday on Comparic. The aim is to present the current market situation on the currency pairs connected with the PLN.


EURPLN

According to our latest analysis, bullish response which appeared around 4.2580 support was so strong that it overcame the resistance zone of 4.2716 – 4.2742. In the following days gains continued and crossed the next resistance 4.2864 and the declining trend line. In the near future we can expect a retest of supply zone around 4.3133 levels. The rejection of this level could trigger a downward correction and re-test of defeated trend line. However, if the appreciation will continue, the potential resistance will be in the area where we expect the bears to response turns out to be only the level of 4.3577.

eurplnh4-3

GBPPLN

In the night from Tuesday to Wednesday, when the market reached support at 4.6771 strong bullish reaction happened. It broke local resistance @4.7420. Yesterday, the market overcame the line of the downtrend followed by a re-test. Currently we reject the level 4.7420 (this time as a support). If only the increases will be strong enough to defeat the next resistance 4.7813 and 4.7979, then we could expect even test of the bearish zone around 4.8937 and the downtrend line of a higher importance.

gbpplnh4-1

USDPLN

From the very beginning of the week we observe a strong and dynamic strengthening of the US Dollar and this is a visible effect not only on the currency pair with PLN. As a result of this strong impulse market has already defeated the downward trend line and two local resistance levels 3.8644 and 3.8863. In the near future we can expect continuation of growth at least in the vicinity of 3.9257 where given such a long appreciation – should appear in bullish response.

To invest in PLN currency pairs we suggest use the InterTrader broker with very low spreads.

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