EUR/PLN 1H Chart: Double Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
It seems that today the EUR/PLN currency pair is losing bullish momentum it gained yesterday. Therefore, there is a risk that the Euro will fall below any of two valleys of the double bottom pattern. The bearish scenario is currently supported by technical indicators on all time-frames, while additional downward pressure is created by 200-hour SMA, which has been following the pair's decline for a prolonged period of time.
However, the latest low of the pattern is strengthened by weekly S1 and the round level at 4.00. Taking into account the fact that 73% of SWFX market participants are holding long opened positions, there is still a chance for rebound of the Euro.

© Dukascopy Bank SA
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Wed, 15 Apr 2015 12:55:04 GMT

EUR/JPY 4H Chart: Ascending Triangle

Starting from mid-February, EUR/JPY cross has been forming the ascending triangle pattern on a 4H chart. However, on April 6 the pair failed to overcome one of the strongest resistance lines represented by 200-period SMA. As a result, the single currency was pushed considerably to the downside and confirmed the pattern  three days later. On its way down, EUR/JPY erased

Wed, 15 Apr 2015 06:36:05 GMT

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