EUR/PLN 4H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralSellBuy
SAR(0.02;0.2)BuySellBuy
Aggregate⇒⇘⇗

[ANNOUNCE] Since the beginning of November, the EUR/PLN currency pair has been trading downwards. [/ANNOUNCE] 

Given that the exchange rate is pressured by the 55-, 100– and 200-period moving averages in the 4.5000/4.5450 range, it is likely that some downside potential could prevail in the market. The rate could target the Fibo 50.00% at 4.3884. 

Meanwhile, note that the currency pair could gain support from the Fibo 38.20% at 4.4487. Therefore, the pair could reverse north and re-test the 4.6440 mark.

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