USD/PLN 1H Chart: Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A jump to a five-month high of 3.1622 initiated a steep decline of USD/PLN and eventually led to a formation of the triangle. Now the currency couple is still locked by the pattern's trend-lines but is likely to break the chains before long since the pair almost approached the apex. Despite proximity of the apex, the pair still has not chose to follow a clear trend, adding to signs that USD/PLN seems to be willing to keep the intrigue about the direction of the breakout as long as possible. This is further supported by mixed market signals, with market players being only slightly bullish on the pair and technical indicators sending ‘sell' signals for medium and long terms.
© Dukascopy Bank SA
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