EUR/PLN 1H Chart: Upside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Buy Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate ⇘ ⇗ ⇗

[ANNOUNCE] The Euro has been appreciating gradually against the Polish Zloty since the beginning of December; the EUR/PLN currency pair has been trading along the lower boundary of medium-term channel located in the 4.2780/4.2850 range. [/ANNOUNCE] 

From a theoretical point of view, the general direction is expected to remain north, as the exchange rate targets the upper boundary of the long-term descending channel located circa 4.3500. Important resistance level to look out for is the Fibonacci 23.60% retracement at 4.3462. 

It is the unlikely case that some bearish momentum prevails in the market, the Euro should not exceed the psychological level at 4.2850.

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