EURPLN Forecast and Live Chart

The Euro/Polish Zloty currency pair (also referred to as EURPLN and EUR/PLN) is considered an exotic currency pair. In this article, we will examine how EURPLN is performing.

EURPLN Key Stats

2021 high: 4.7429
2021 low: 4.4321
YTD high: 5.0031
YTD low: 4.4824
YTD % change: +5.28%

EURPLN Forecast

The EURPLN has been steadily climbing since the start of 2020, gaining over 5% this year. While it would not surprise us at all to see price continue to rise in the near to mid-term, the current economic uncertainty in Europe means it is crucial to execute prudent risk management when trading the pair. We see a potential pullback in the near term but an eventual move higher once the price edges back towards its 100 MA on the daily chart.

EURPLN Fundamental Analysis

Understanding what moves currency on a day-to-day basis can help traders establish a directional bias. The macroeconomic environment is impacted by economic activity and factors such as unemployment, consumer spending, GDP, inflation, and much more. As a result, it is essential to understand the current macroeconomic climate.

The euro has been heavily affected this year by external factors. The Russia-Ukraine war has caused an energy crisis for Europe. Annual inflation has jumped to 9.1%, the biggest reason being energy prices. Prices generally have surged, resulting in the ECB raising interest rates by 75 basis points in September. In addition, the European Central Bank is expected to continue raising rates.

Over recent months, the euro has been a heavy talking point, hitting major lows vs. the US dollar, with Russia halting gas supplies heightening fears about a deepening energy crisis. The euro has had a significant inverse correlation with natural gas prices in recent months. With energy prices rising, the euro has been sinking as Europe attempts to break away from Russian energy supplies.

The Polish Zloty is less prominent compared to the euro. The invasion of Ukraine by Russia has put a strain on the zloty and other eastern European currencies, with energy prices soaring. Furthermore, Poland’s central bank raised rates by 25 basis points to 6.75% as they battle soaring inflation. This was less than expected, causing the PLN to come under pressure. However, Poland has led with a hawkish tone, with central banker Joanna Tyrowicz mentioning the potential for raising rates by 2 to 3 percentage points.

EURPLN Technical Analysis

Technical analysis is used by many successful traders, either alongside fundamental analysis or on its own. We believe that using both to identify currency pair moves is the ideal option. In addition, technical analysis can help investors identify areas to enter and exit positions.

For example, the 4.6536 area for EURPLN is a support level to watch out for. If the price pulls back to this area, you may see bullish traders enter back into the market. On the other hand, if the area breaks, we could see a move further to the downside. Additional support levels include 4.5673 and 4.4834. We also have to consider resistance levels to the upside. These are areas where price may struggle to break through. One such area is the previous high of 5.0031.

Furthermore, the EURPLN is trading above its 100-day MA on the daily chart, which has held well as a support level of late.

Trade EURPLN with our top brokers

Broker	Features	Regulator	Platforms	Next Step
73% of retail CFD accounts lose money Founded: 2014 73% of retail C...	Well regulated Ultra-fast and high leverage trading Spreads as low as 0.0 pips Comprehensive research tools Relatively limited number of markets Does not accept US traders Read Tickmill Review	FSA SC	MT4, MT5	Sign Up TEST TICKMILL Read Tickmill Review
Your capital is at risk Founded: 2014	User-friendly platform with great trade-analysis tools Leverage Up To 1:500 Spreads as low as 0.00 pips Quality trade execution thanks to high-spec IT infrastructure $0 minimum account opening balance 26,000 tradeable instruments Not available in all jurisdictions Regulatory infrastructure Read BlackBull Review	FSPR	MT4	Sign Up OPEN FREE DEMO ACCOUNT Read BlackBull Review
Your capital is at risk Founded: 2006 Europe* CFDs ar...	Multi-asset broker offering a wide variety of markets Strong regulatory framework Innovative risk management tools Choice of market-leading platforms Wide spreads on some markets Expiry date on Demo Accounts Read AvaTrade Review	ASIC, FSA, FSB, MiFID	MetaTrader4, Sirix, AvaOptions, AvaTrader, Mirror Trader	Sign Up OPEN FREE DEMO ACCOUNT Read AvaTrade Review
Between 74-89% of CFD traders lose Founded: 2010 Between 74-89 % of retail investor accounts lose money when trading CFDs	Low trading costs Great market flow Research and analysis which helps spot trades Wide range of Copy and Social Trading options Limited range of non-forex markets Read Pepperstone Review	ASIC, FCA	MetaTrader 4, MetaTrader 5, cTrader	Sign Up OPEN FREE DEMO ACCOUNT Read Pepperstone Review
77% of CFD traders lose Founded: 2007 77 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.	Social and Copy Trading Platform Beginner Friendly Risk-free Demo Account Top-tier regulation Limited means of raising queries Withdrawal process isn’t really ‘client-focused’ Read eToro Review	ASIC, CySEC, FCA	eToro Platform	Sign Up OPEN FREE DEMO ACCOUNT Read eToro Review
Your capital is at risk Founded: 2009, 2015, 2017	Low minimum deposit Super- tight bid-offer spreads Impressive trading platforms Tier-1 regulators Difficult to contact tech support No Crypto Read XM Group Review	ASIC, CySEC, IFSC	MT4 Terminal, MT4 for Mac, Web Trader, iPhone/iPad Trader, Droid Trader, Mobile Trader, MT5	Sign Up OPEN FREE DEMO ACCOUNT Read XM Group Review
Your capital is at risk Founded: 2006	Very well regulated Comprehensive education section Fantastic customer service No cryptocurrencies Fees could be more competetive Read FxPro Review	CySEC, DFSA, FCA, FSB, SIA	MetaTrader4, MetaTrader5, cTrader, FxPro Edge (Beta)	Sign Up OPEN FREE DEMO ACCOUNT Read FxPro Review

Forextraders' Broker of the Month

BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners.