Higher high generates buy signal. Weekly low is at the level of 3.87.
The CHFPLN is still in uptrend and generated buy signal as per higher high:
The weekly low is at 2.57.
Not much can be said as both currencies are in uptrend. Unfortunately for polish mortgages' owners there is no sign of trend reversal.
The OECD (Organisation for Economic Co-operation and Development) publishes reports and forecasts for about 30 member countries. The one for Poland can be found here.
Sources:
[http://www.oecd.org/dataoecd/6/32/20213254.pdf]
Posts
You are right that the trend EUR/PLN is in place. I am waiting for a retracement. In my opinion it will be there during the next week or the week after. My guess is that it starts with the beginning of the new week. It might be also an additional significant bulish week for the EUR. My trading account goes currently down, but I still wait some days or weeks before I give up and close the position. I am still confident for a retracement.
ReplyDeleteStaTrader
Won't it be better to wait for actual reversal (like crossing the 3.87 for now) and then enter a trade?
ReplyDeleteI'm not a Forex player and I don't know your strategy, but in stocks my bottom-guesses are usually wrong, especially those against the trend.
You are right, but my strategy works against that what all the theory says. This is not easy at all! Because I trade only a little amount of money I increase step by step my position when it goes to the wrong direction. With this I can get a good cost average. (Nobody can get a top always exactly). You only can do this in extreme situations otherwise you get lost... If there is never a retracement I have to accept that I am wrong, but there are so many bullish days in a row, so I believe the retracement comes soon. I have tried that more often. I do not look for a complete trend change, I look for a retracement. We will see.
ReplyDeleteStaTrader