USDPLN caught the tailwind of the foreign exchange market

  • Jul 12 2021
  • by
  • Analyst AZA
USDPLN caught the tailwind of the foreign exchange market

USDPLN caught the tailwind of the foreign exchange market

Given the complete calm in the currency and stock markets, this currency pair is of greater interest for opening an order today. On the 4 hour chart, if you draw a straight line below the lows, you will see a technical analysis figure - a triangle. It's is a trend continuation pattern, so we will look for an opportunity to open a long position. The price has already tested the 3.8500 level for strength twice and bounced down each time, but not very deeply. Each time a new low is higher than the previous one, which indicates a growing trend. We will place a pending order to enter the market to break the nearest high at 3.8550. You can place a Take Profit order at 3.8800 where the price will meet the nearest strong resistance level.

Symbol: USDPLN
Order Type: Pending Order - Buy Stop
Entry Price at 3.8550
Take Profit at 3.8800
Pips Earning: 250

The result of a trade recommendation. The price reached the Take Profit level in a few hours.

The price reached the Take Profit level in a few hours.

img
The profit can be $675.68 if the trading volume of 100000 USD (1 Lot).

Promotions

imgaza youtube

Profitable trading recommendations, forex analytics for beginners traders

Subscribe our channel

top authors

Technical analyst

Tim Brykov
Technical analyst

Fundamental analyst

Stan Zabar
Fundamental analyst

Head of Analysis Department

Michael Wallenberg
Head of Analysis Department

Economic Observer

Alan Dofine
Economic Observer

Call US Feedback
en de nl fr pt es it uk zh ko ja ar ru tr hi