EUR/PLN 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The pair of two European currencies, EUR/PLN, followed a bearish trend after it hit a one-month high of 4.2268 late April. In mid-May, the downswing became more distinct as the currency couple entered a downward-sloping channel.
At the moment, the corridor is 179-bar long and there are no indications that EUR/PLN is willing to stop its losing streak. The pair is sitting slightly above a four-month low of 4.1508 but is likely to dive below this line given that despite neutral SWFX sentiment, technical data is sending clear ‘sell' signals for short, medium and long terms.
© Dukascopy Bank SA
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