Fri, 13 Sep 2013 13:37:19 GMT
EUR/PLN 1H Chart: Channel Down
A long, but narrow channel down was formed by EUR/PLN on a hourly chart on September 9. Even though the pair has been depreciating for more than 85 hours, further downside movement is expected. There are several reasons behind it. First of all, market sentiment is strongly bearish– 72%, suggesting traders are expecting further depreciation. Moreover, the majority of aggregate