USD/PLN 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3) Sell Neutral Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The American Dollar is trading against the Polish Zloty in a short-term, narrow descending channel. The current pattern represents a rebound of the currency exchange rate from the upper boundary of the preceding ascending channel with the subsequent breakout downwards. An impulse given to the pair was strong enough to easily push it though the monthly PP at 3.7794, the 200-period SMA at 3.7682, the weekly S1 and S2 at 3.7479 and 3.7153, accordingly. Due to that, a further surge is expected to continue until the end of this trading week. However, because of the narrowness of the pattern, a reaction of traders on the release of US final quarterly GDP might easily break it in both directions. In addition, by end of this trading it would be also possible to conclude whether there is another large ascending channel.

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