20080816 - EURPLN

Since our last post EURPLN managed to break the resistance line, therefore the analysis needs to be updated as well. The EURPLN is in downtrend - that goes without a question. However, the channel should be now plotted like this:



In 4-hour chart we can see the double bottom with the realized target to ca. 3.3360:



I don't think the EURPLN rally will continue higher than ca.3.35. But in case it does - that's the market and the best we can do is just to observe it and react if needed.