EUR/PLN 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Euro has been underperforming the Polish Zloty since Dec 29, when the currency pair encountered a strong resistance level at 4.40. Considering that EUR/PLN has formed a channel down pattern during this time, the overall outlook toward the rate is bearish. However, in the short run we are likely to see an upward correction. The pair is currently facing a dense demand area represented by the lower trend-line of the channel near 4.1617, which is reinforced by the weekly S1 and the nearby 2014 Dec low. The Euro is expected to breach the accelerated falling resistance at 4.18 and start heading in the direction of the upper trend-line of the pattern, where the rally should come to an end.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 05 Feb 2015 06:53:25 GMT

AUD/JPY 4H Chart: Channel Down

Given the fact that AUD/JPY is trading within the boundaries of the bearish channel, the Aussie is likely to keep depreciating against the Yen. At the moment the currency pair is trading in the vicinity of the resistance trend-line, which should guide the price through the nearby supports until it reaches the lower edge of the channel. While the near-term

Wed, 04 Feb 2015 15:13:07 GMT

HKD/JPY 4H Chart: Rectangle

Since November the Hong Kong Dollar has been trading sideways against the Japanese yen. Being that trading range is currently limited between 14.92 and 15.64, the cross managed to form a high-quality and magnitude rectangle pattern on a 4H chart. At the moment any HKD's attempts to develop beyond the 15.30 mark are capped by the 200-period SMA. Moreover, additional resistance

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.