EUR/PLN 4H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Since the end of September, the EUR/PLN currency pair has been testing the psychological level at 4.5950.  

It is likely that the exchange rate could gain support from the 55-, 100– and 200-period moving averages in the 4.5000/4.5320 range and trade upwards in the medium term. In this case the rate could target the 4.7000 level. 

However, if the 4.5950 level holds, it is likely that a reversal south could occur, and the currency pair could re-test the psychological level at 4.4600.

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