EUR/PLN 1H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
All kinds of triangles are highly attractive for traders, as when trend lines converge the price is highly volatile. Hence, traders can make substantial profit in a short period of time. EUR/PLN is not trading in boundaries of the triangle anymore, however, we have not received a confirmation from the trading volume, hence, it can be a formation of the throwback, but not a breakout. Moreover, this idea is supported by technical indicators. According to aggregate indicators, the pair will move back into pattern's boundaries, and only than perform a strong rally. The key level for long traders is located at a recent high and a daily R3 at 4.2082.
© Dukascopy Bank SA
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