USD/PLN 1H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The American Dollar is losing value against the Polish Zloty in a pattern that has the features of a descending triangle. An impulse necessary for its formation was given by an announcement of the US Federal Funds Rate on Wednesday. In theory, the currency rate should exit the pattern in the southern direction. On validity of this scenario indicate combination of the 20-, 55-, 100-, 200-period SMAs and the weekly PP that exercise pressure on the pair from the top. On the other hand, the lower trend-line coincides with the monthly S2 at 3.6160, which has already proved to be a strong support barrier. Besides, there is a chance that even if the pair breaks downwards, the fall would be stopped near 3.6107, to which point out three William's fractals.

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