EUR/PLN may rise 88 - 130 pips

4.2751 is our pivot point.

Our preference

The upside prevails as long as 4.2751 is support.

Alternative scenario

Below 4.2751, expect 4.2679 and 4.2637.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.2675 and 4.2695). Finally, the EUR/PLN is trading above its upper Bollinger band (standing at 4.2789).

Supports and resistances

4.3022 **

4.2980 *

4.2937 **

4.2895

4.2807 last

4.2779

4.2751 **

4.2679 *

4.2637 **

Number of asterisks represents the strength of support and resistance levels.