USD/PLN 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A fall to the lowest level since 2011 in the end of December provoked a rise of the U.S. Dollar versus the Polish Zloty; the rise has been developing within the tunnel of two upward sloping lines, in other words, the pair shaped a channel up pattern.
At the moment of writing, the currency pair was vacillating close to the lower limit of the 291-bar long pattern and was likely to prolong its losing streak amid bearishness on the market. According to the SWFX data, over 66% of traders were betting on depreciation of the pair in the hours to come.
© Dukascopy Bank SA
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