EUR/PLN 4H Chart: Channel Up

As a part of a bearish correction, right now the Euro is moving towards the lower boundary of the upward-sloping corridor at 4.2053, where the currency should encounter tough demand and turn around. The recovery will then be expected to persist until the rate reaches the resistance at 4.2676. However, the market sentiment is currently strongly bearish towards EUR/PLN—70% of open positions are short.