USD/PLN 1H Chart: Ascending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/PLN now represents a lucrative opportunity for traders as the pair exited a 194-bar long ascending triangle two hours earlier that means an accelerating decline may lie ahead. The likelihood of a dive is high since the bearish scenario is supported by market players who bet on depreciation of USD/PLN in circa 70% of cases. To confirm traders' opinion, the pair has to plunge below the daily support line at 3.0284 and 200-hour SMA at 3.0234 that will open the way for a slide to the next level of 3.0195/59 (daily S2, S3) below which the pair is not likely to face any obstacle for a massive sell-off.
© Dukascopy Bank SA
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