The EUR/PLN currency pair has been moving within a trend channel since the end of March. The pair has tested the lower limit of the channel as a potential support area and also has tested the upper limit as potential resistance.
Last week it has been defended so the market may move to the next potential support at 4,36 or at the line drawn through the bottoms.
It seems that only a breakout of the upper limit of the channel may change the sentiment from bearish to bullish.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Last week it has been defended so the market may move to the next potential support at 4,36 or at the line drawn through the bottoms.
It seems that only a breakout of the upper limit of the channel may change the sentiment from bearish to bullish.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.