EUR/PLN 1H Chart: Falling Wedge

Source: Dukascopy Bank SA
Interestingly enough, EUR/PLN did not stay above the senior range support at 4.2569 which can be observed on the weekly chart, but executed a second dip below which led to the formation of a falling wedge. The pair is currently testing the upper trend-line of the pattern and appears to be working on breaking it to soar above and potentially even to launch another attack at the senior level. Immediate resistance is being tested right now at the 20-hour EMA level, but we will look for it to break and lead into a severely clustered area which begins at 4.2322.
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Wed, 26 Apr 2017 08:18:29 GMT

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