EUR/PLN 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A long, but narrow channel down was formed by EUR/PLN on a hourly chart on September 9. Even though the pair has been depreciating for more than 85 hours, further downside movement is expected. There are several reasons behind it. First of all, market sentiment is strongly bearish– 72%, suggesting traders are expecting further depreciation. Moreover, the majority of aggregate technical indicators are sending "sell" signals, reinforcing a view single currency will continue losing ground against the Polish Zloty. Despite such an outlook, the Euro has lost just 0.09% against its major peers during the week.
© Dukascopy Bank SA
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Fri, 13 Sep 2013 15:20:43 GMT

USD/JPY 1H Chart: Channel Down

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Fri, 13 Sep 2013 13:37:10 GMT

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