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Current Situation On EUR/USD, Silver And USD/PLN

Published 03/29/2017, 07:43 AM
Updated 05/14/2017, 06:45 AM

EUR/USD cannot hold the optimism from Monday and closes the gap falling below the 1.0840 support. We are about to test the neck line and the mid-term up trendline. As long as we stay above those two, the sentiment is still positive.

Silver is doing all right in the second half of March. We are very close to the neckline of the iH&S formation and we should test it as a closest resistance soon. That can be a good place for sellers to trigger a short term bearish correction here. Chances for a bullish breakout straight away are rather limited.

USD/PLN reached the long-term up trendline, where we finally stopped having a small bullish correction. Although it can be a good place for a reversal, we think that there are big chances for a further downswing and making third, the same bearish impulse ~ 4500 pips (blue rectangles).

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