USD/PLN 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
As the US dollar has been gaining value against the Polish zloty since Dec 8, the pair made it possible to create the bullish pattern on an hourly chart. 
At the moment expectations for the cross are strongly bullish, considering the fact that the Buck has recently bounced from the lower trend-line of the figure. Therefore, we expect the pair to advance further. The closest obstacle around 3.63 may create some issues for the pair, but eventually we expect it to jump above this resistance. Our view is supported by technical indicators on all time-frames, assuming the long-term advance for the Greenback. SWFX traders, however, are bearish in 74% of all cases.

© Dukascopy Bank SA
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