USD/PLN 4H Chart: Double Bottom

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a false breakout a day earlier, bulls are making another attempt to penetrate the resistance line. Even despite a slight retracement to 3.218, the pair is likely to jump above the resistance line, as indicators on 4H chart are sending strong "buy" signal. However, in a longer period, the price may move back in pattern's boundaries and even form a rectangle, and start fluctuating between 3.226 and 3.1680. In addition to that, market sentiment is strongly bullish (74%), adding to signs that this time bulls will be strong enough to break through the resistance line.
© Dukascopy Bank SA
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