EUR/PLN 4H Chart: Channel Down

While in the 1H chart the EUR/PLN currency pair is trading inside the bullish channel, its long-term outlook remains unchangeably negative. As soon as the current leg up is completed, we are going to expect another wave of losses in the direction of 4.19. This is where the lower edge of the pattern is resting at the moment. Provided with bearish technical indicators on short and long-term time frames, the cross  it at risk of starting to retreat earlier than anticipated. In particular, the weekly and monthly R1s may stop the bulls near 4.3250. As for the distribution between long (33%) and short (67%) SWFX positions, here the bias favours the growth scenario, as the Euro seems to be already oversold.