USD/PLN 30M Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/PLN opened 2017 with a prominent leap above the falling wedge pattern at had formed previously and now appears to be gaining some downward momentum which will most likely lead to a retracement from the broken trend-line of 4.1837. Levels, such as 4.1934, 4.1898 and 4.1855 will mess with the momentum and could as well serve as a floor in case the correction is left incomplete. We will then expect a surge towards 4.2091 and 4.2108 after the consolidation is finished. A return inside of the pattern, although unlikely, cannot be eliminated, and would ultimately lead to tests of 4.1595.
© Dukascopy Bank SA

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