USD/PLN 1D Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 1D 1W 1M
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Buy Neutral
Stochastic (5; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The American Dollar is depreciating against the Polish Zloty in a long-term descending channel that started to form in the end of previous year. At the moment, the pattern consists of four confirmation points, which means that it has fully formed and might be broken in the nearest future. 

The fact that the northern boundary is reliably secured by the 55-hour SMA and then also by the 100-hour SMA, makes the probability of a breakout to the top unlikely. 

The path to the south, in contrast, is protected only by the monthly S1 at 3.5412. In short run, the pair might make a breakout and try to restore some of the lost positions on Friday. But in longer perspective is should inevitably slip to the bottom boundary of the channel.

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