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EURPLN - Descending Triangle!



Charts: 4Hours, 1 Day.
Elements used: Fibonacci Fan Lines,Support & Resistance Levels , MACD, EMA 200,100,50.
Current Level : 4.1825


EUR/PLN
pair like the majority pairs which have euro as base currency , experienced a bullish run very high and in a relatively short perioad of time folowed by a long period of retracements.As can been seen on the chart below the pair formed an descending triangle pattern in the retracement process. I predict that the retracement will be ''contained'
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Metal_Mind avatar
Metal_Mind 26 12月

UPDATE 1 : Even though this is a hard to predict pair i kind got it right. Current price level is 4.1384 which is only 150 pips above the target deviation which very impresing taking in consideration that this pair is extremly volatile. With several days to go the result may come close and be quite a surprise.

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