20081206 - EURPLN, CHFPLN

The EURPLN crossed weekly high (3.3914) and therefore new medium-term buy signal was generated:



The long-term buy signal will be generated after crossing monthly high (3.9819).

In last post we spoted the potential symmetrical triangle formation in CHFPLN chart. However, the formation seems to be no longer valid: breakout come too late (it's expected to break around 50-75% formation width) and there is no dynamic move after (the weekly high has not been broken):



Therefore, not much can be said about CHFPLN now. The price is still in long- (monthly) and medium-term (weekly) uptrend. Crossing 2.3084 will negate the medium-term buy signal.