USD/PLN 1H Chart: Long-term channel in sight - Trade Pattern Ideas - Dukascopy Bank

Fri, 22 Feb 2019 14:03:59 GMT
Source: Dukascopy Bank SA
 

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

The USD/PLN exchange rate has been trying to breach the long-term ascending channel since the middle of February.  

Currently, the currency pair is testing the weekly PP at 3.8350. Given that the rate is being supported by the 100– and 200-period (4H) SMAs, it is likely that the pair re-tests the upper channel line at 3.8645. If given channel does not hold, it is likely that a breakout north occurs within following sessions. A possible upside target is the monthly R3 at 3.8869. 

Otherwise, a reversal south occurs in the nearest future.


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