“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.
According to our Tuesday’s projection, yesterday the market has reached a level of around 4.4560. As a result of appearance there a strong supply, from last night we see declines, which could reach up to the vicinity defeated in last week’s level of 4.3680.
As a result of lasting from 12 October this year, growth reached today area of a very important supply zone 5.1610 – 5.2200 coinciding with the line of the downtrend. The rejection of that level could trigger declines for which the potential target would be even around the level of 4.8750.
To invest in currency pairs of PLN suggest use low spreads the broker InterTrader that at the time of the creation of the analysis for each instrument in turn were 13.3, 21.1 and 12.2 pip.
As a result of ongoing almost since the beginning of the month increases yesterday pair overcame the level of 4.15, and in the most extreme moment for one US dollar we had to pay up to 4.1797 PLN. At such a high level the last time we were in 2002.
Since yesterday evening we observe slow dips and if we only finish this week below 4.1300 creating a bearish pin-bar candle on the week chart than appears a chance for declines, at least in the vicinity of the support 4.0509 coinciding with the level of 38.2% correction Fibonacci of the November increases.
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