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EUR/PLN 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/PLN slipped from annual highs and entered a flattish motion which has now turned into a falling wedge pattern, meaning that bulls could take over sometime soon. The pair is currently testing the bottom boundary of the pattern at 4.3789 and we would expect the rate to break the pattern to the upside and target 4.4265, the 2017 high – a level which has come into play more than once over the last two weeks. With 4.3789 being the ultimate goal, solid momentum will be necessary for the scenario to become more feasible.
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04 Jan 2017

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