EUR/PLN Breaks Clear Up Channel

Published 11/21/2012, 06:25 AM
Updated 03/09/2019, 08:30 AM
EUR/PLN
-

EUR/PLN today broke the Clear Up Channel chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is rated at the 7 bar level as a result of the low Initial Trend (measured at the 2 bar level), significant Uniformity (7 bars) and higher Clarity (8 bars).

Strong Uniformity and Clarity reflect the well-formed chart pattern with high visibility to the market participants. The top of this Up Channel (point B on the chart below) was formed when the pair corrected down from the 38,2% Fibonacci Retracement of the preceding downward price impulse from June (which also reversed the pair down in September). Autochartist rates the strength of this Breakout at the maximum 10 bar level, which heightens the likelihood that the pair will continue to decline toward the Forecast Price 4.0857 in the nearest time.
Dailyfx 1
The following daily EUR/PLN chart below shows the technical price levels mentioned above:
EUR/PIN

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.