EUR/PLN 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/PLN has been on the decline for more than 350 hours already. During this time period the currency pair has been respecting two bearish trend-lines that together form a channel down pattern. However, while the upper boundary of the corridor has been confirmed on several occasions and may be considered as more or less reliable, the lower boundary for now is much less durable.
The current set-up on the chart favours development of a dip—EUR/PLN is facing an important resistance at 4.2236. Moreover, a substantial part of the daily technical indicators are giving ‘sell' signals.
© Dukascopy Bank SA
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