EUR/PLN 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 125-bar long Channel Up was formed by EUR/PLN on the 4H chart more than a month ago. The pair has been not so volatile during the last several trading sessions, however it has moved to the north rather nicely. As technical indicators on 4H and 1D charts are sending "neutral" signals, the pair is likely to be driven by market sentiment in the nearest future, which is strongly bearish (73%). However, in a longer term, the continuation of the uptrend is expected, as indicators on 1W charts are pointing at the appreciation of the single currency against the Polish Zloty.
© Dukascopy Bank SA
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