The long-term sell signal has been generated, however the fall exceed any expectations (table thanks to stooq.pl):
There is no reliable way to say if this swing will retrace or continue. I would also say the target of 21500 from triangle (this post) has been reached (it's safe to assume ca.90% of projected size will be meet).
The EURPLN has shown tremendous volatility (buy signal generated after crossing 4.70):
The EURPLN is near the high of 4.95 from 2004, crossing this level will generate strong long-term buy signal.
The CHFPLN also rallied (long-term buy signal has been generated after crossing 3.15):
Unfortunately, the CHFPLN has taken the high from 2004 and that are bad news for polish mortgage owners.
The Polish Government may initiate a currency intervention if EURPLN exchange rate crosses the level of 5PLN for 1EUR (here).
It's very subjective opinion, but this uptrend may be easily qualified as parabolic uptrend (here or here). There is no reliable way to say how long the uptrend will continue, but this formation often marks the end of a move with prices not returning to the ultimate highs again for a long time (here). The retracement can be very fast and I personally think it is risky to enter long positions now.
Sources:
[http://waluty.onet.pl/1918351,wiadomosci.html (via Google Language Tools)]
[http://www.thestockbandit.com/Parabolic.htm]
[http://www.forex-articles.net/article-24.html]
[http://www.marketoracle.co.uk/Article5478.html]
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