Day trading strategies on USDPLN 10-20-2016 by AzaForex forex broker, foreign exchange advice to help you learn to trade better

Tips on becoming a victorious trader with foreign exchange.
The Polish Zloty lost again its recovered positions against the US dollar. The rate of this currency pair in the Forex market is going up again, and had already tested the 3.9410 resistance level several times. If you look at a chart of a largest  currency, we can see that during last time the price several times was near a smooth level 4.0000. This is a very important level, it is not only a psychological impact on the minds of traders, but also has a different effect on the economy as a whole. At this level the game includes government institutions, banks and large investors, regulating the economy. Therefore, if the price reaches this goal, we will not find out where further price will move and at this level fix the profit.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Buy
•    The level of entry into long position: 3.9410
•    The level of profit and close the position: 4.0000 (590 pips)

Metal GOLD 
Possible bearish movement in the breakdown of the support level 1266

Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2240

Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9915

Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.0950