Daily Forex Update: EUR/PLN

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Jun 26, 2014 dima7777 (0)

By: Dima Chernovolov

 

This technical analysis report is based upon a trade opportunity taken from Autochartist’s Market Reports.

 

Autochartist recently identified the key resistance level 4.1743 (of the type Approach) on the 4-hour EUR/PLN charts – as you can see below. The pair is expected to rise to this key level in the coming trading sessions. This forecast is aligned with the earlier sharp upward price impulse from the long-term support level 4.0900. This support level previously reversed the pair sharply up in April of 2013 with the weekly Japanese candlestick reversal pattern Morning Star Doji (as you can see on the second chart below).

20140627dailyfximage1

The weekly EUR/PLN chart below shows the previous price action close to the support level 4.0900:

20140627dailyfximage2

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