EUR/PLN 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/PLN abandoned January lows in several attempts to establish a solid bull market, and entered the most recent correction in an ascending channel pattern. The pair is now likely to break the formation to the upside at 4.3766, after the bottom boundary is re-tested and a wave extends worth. In case the bottom trend-line gives in to the pair's weakness, we would look for a new, larger-scale pattern to arise on the four-hour chart, namely a channel up or a rising wedge. A rectangle could also come into play, but just in a case where the pair sends definite signals for a ranging market.
© Dukascopy Bank SA
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