Home / Business / The pound has already made 20 groschen! The zloty sticks out of the franc and the dollar. The euro is also passing a successful week

The pound has already made 20 groschen! The zloty sticks out of the franc and the dollar. The euro is also passing a successful week

Another interesting August session is behind us. I have to admit that the volatility in the foreign exchange market this month is extremely good. Many professional investors plan their holidays in August, which means they have great investment opportunities. The exchange rates of the euro, the dollar, the pound and the franc look interesting. Only the pound recovered from the downswing in just 2 weeks and increased by over 20 cents! We are constantly watching a strong franc that could disturb the franc. The dollar is also picking up, but after Donald Trump's weekend tweet, the situation can be extremely interesting. Monday promises to be interesting.

The franc exchange rate is a hectic franc problem

Let's start the analysis with the franc exchange rate CHF / PLN. Last week was already the 8th growth week in a row. From the beginning of June, the franc gained more than 0.25 PLN against the zloty. This is a lot, considering that the exchange rate of the Swiss franc has increased by the same amount during 2018. Two weeks ago there was a temporary weakness of buyers, but the last 5 meetings dispelled doubts. Investors seek a safe haven and find it in Swiss francs. The next resistance level is at a local maximum of 4 PLN and 0.05 PLN. The Friday closed was PLN 4 and PLN 0.02. Therefore, the distance to the level is low.

  Exchange rate from franc to PLN CHF / PLN

Exchange rate from franc to PLN on a weekly basis. Local support and resistance levels are highlighted in red.

The pound sterling is finally rising – for a pound we pay 4 zloty and 83 grosze.

For 2 years, the pound has been under constant Brexit pressure. The specter of leaving the European Union through Britain is not just investors. Entrepreneurs are at particular risk if they do not know the conditions under which they must work from 1 November. Strong sterling gains should be treated as a rebound from earlier declines. Ultimately, the pound price can even rise in the regions from PLN 4 to PLN 0.90.

  Graph of the pound at GBP / PLN PLN

Graph of the pound at GBP / PLN PLN at the weekly interval. Source: tradingview.com

The dollar is surprisingly positive. The so-called Upper Shadow

Do you keep dollars instead of zlotys? If so, I have good news. We are still on the uptrend, which means that it is actually better to have American currency in your portfolio than Polish. Donald Trump's tweet can cause some confusion, and opening for US dollar currency pairs on Monday can be very unexpected. Confusion is practically guaranteed. The next support level for the USD / PLN exchange rate is 3 zlotys and 90 groschen.

  Dollar Zloty USD / PLN Chart

Dollar Zloty USD / PLN Chart. Weekly interval. An ascending wedge formation is marked in red, from which an unexpected increase emerged.

Boring Euro? It is outdated

How much is the euro? For most, the obvious answer is PLN 4.30. Not this time. The EUR / PLN exchange rate is around 4.40. This means that the local resistance test should already be reflected in days. It is worth noting that the transition between support and resistance zones lasted only 4 weeks. It really is not much when it comes to EUR / PLN.

  Chart from EUR to PLN EUR / PLN Week Interval

Chart from EUR to PLN EUR / PLN in a weekly interval. We can expect significant volatility

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