20080920 - EURPLN, CHFPLN

After breaking from the channel (this post), the daily EURPLN looks really messy:



Situation is not clear enough to make any long-term forecasts. Nevertheless, we can take a look at intraday chart:



The important level of 3.32 and Fibo 61.8% has been broken, therefore we can assume the price is going to fall more (please also note the unbroken level of 3.2750). However, as the situation of bigger period is not clear, we should not rely on intraday charts too much.

The weekly CHFPLN chart still looks clear enough with lower-low & lower-high pattern and the long-term downtrend line:



Sources:
[http://www.netdania.com/Products/ChartStation/ChartStation.aspx]