USD/PLN 1H Chart: Triple Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a sharp appreciation in October, USD/PLN lost its spree and changed direction to the south. The downward trend has been observable since mid-November; however, a formation of the triple bottom pattern was started only in early December when the pair notably accelerated the pace of its depreciation. Now the currency couple is rebounding after bottoming at the lowest mark of the pattern for the third time, suggesting that a considerable advance is on the way. However, market sentiment indicates much less optimism among market players who are bearish on the pair in 80% of cases.
© Dukascopy Bank SA
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