Friday, January 8, 2010

US Dollar / Polish Zloty Outlook

The US Dollar has been trading in a bearish trend against the PLN.

Recently, the currency pair couldn’t cross its Fibonacci Retracement line at 2.8541 (61.8%) and the prices rebounded. Now it seems that the USD will continue its downward trend.

A crossing MA Oscillator may support with a breakthrough by the signal line from the top.

But it remains to be seen if the next support level around 2.8247 (50.0%) could be strong enough to stop the actual trend.

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