EUR/PLN 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having touched a one-year low of 4.1591, EUR/PLN followed an upside trend that led to a formation of the rising wedge pattern on December 31. Recently, the pair has approached almost a one-month high of 4.1823 that lies on the upper boundary of the pattern; however, the currency pair refrained from a further appreciation and retreated, albeit slightly.
Now the trading range is relatively narrow, meaning that the pair is approaching the convergence point of the pattern trend lines hence the breakout is likely to occur before long.
© Dukascopy Bank SA
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