USD/PLN 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been developing in the frame of a rising wedge pattern rather well. There was a noisy period yesterday, but after a pullback pair returned in to the pattern's zone. It is worth mentioning that the gap between the pattern's support and resistance narrows by 450 pips in 100 bar period. Current market sentiment is strongly bearish—72% of all open positions are short on the pair. This shows that pair still has the propensity and most likely will test the pattern's resistance.

© Dukascopy Bank SA
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