The rally bounced from Fibo 61.8% level and crossed the weekly low of 4.40. Daily sell signal has been generated at 4.47. Nevertheless, the breakout is still in error margin and the weekly sell signal has not been generated yet.
The CHFPLN looks alike:
Daily sell signal has been generated at 2,92. The current price is near the level 2.84, but, similarly to EURPLN, weekly sell signal has been not generated yet.
Both currencies remain in downtrend. The charts are showing the projected 168% retracement from last swing, however, note that it's just the guessing game and we really should focus on trend following.
The European Central Bank, reduced Thursday its key interest rate to 1.25% (here).
Sources:
[http://www.marketwatch.com/news/story/european-central-bank-cuts-rate/story.aspx?guid={A4E741C0-0EDA-47DE-A69F-2814DDDF4FE2}]
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