EUR/PLN 1H Chart: Euro regains lost positions

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

The EUR/PLN exchange rare is trading in two opposing channels. The senior pattern is a six-week channel down, while the pair's movement during the past week-and-a-half has been guided by an ascending channel. The rate is currently regaining some lost positions and moving closer to the upper boundary of the senior pattern. On October 3, the Euro beached a long-term ascending channel valid since late April. The pair has not yet made a rebound from this line—an area that intersects with the aforementioned senior channel in the 4.26/27 area. Thus the base scenario in the short term favours the rate bouncing off the combined support of the 55-, 100– and 200-hour SMAs and the weekly PP circa 4.2450 and trading sideways.

© Dukascopy Bank SA

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