EUR/PLN 4H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A Falling Wedge pattern worth of attention has emerged in the Euro-zloti cross. At the moment it is approaching strong support are around 4.2 (1.5 month low) which should cause some volatile/choppy moves. However, the presumption remains that pair will continue moving towards the pattern's support which could be reached in the course of 4-5 days if the pair maintains the same momentum. It seems that Fibonacci retracements (beginning to the end of July move) had some influence, but as the pair has already breached the 23.6% and 38.2% levels they were excluded from the further analysis.

© Dukascopy Bank SA
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Thu, 08 Aug 2013 13:15:00 GMT

USD/SEK 4H Chart: Channel Down

Similar properties to the previous pattern (in the terms of quality and magnitude) are given by the US dollar and Swedish kroon currency pair – quality being slightly above the average whilst magnitude is well above the average. Differently from the EUR/PLN pattern, short and medium term technicals in this case give a rather good indication about the further depreciation

Thu, 08 Aug 2013 06:51:43 GMT

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