The dynamics of PLN strengthening recently has been impressive. It is no wonder that headlines in financial media are now dominated by this fact. This strong interest in the subject of the strengthening zloty may signal, however, that in the short term we are one step away from taking profits from long positions in PLN.
Past days definitely belong to the zloty. This is not an exception, however, as the improvement in moods has also spread across the remaining emerging markets, strengthening their currencies. This is well illustrated by the WisdomTree Emerging Currency Strategy Fund chart, i.e. the ETF that gives exposure to emerging market currencies (ticker: CEW), which has
PLN, like many other markets, has moved sideways in recent weeks. Last week has already signaled that the market will move to correction. The franc sellers managed to leave a long, negative candle on the weekly chart, and the market left the range of almost 2-month fluctuations. So we move to correction and it's time