The CHFPLN generated another weekly sell signal:
Not much else can be said right now. Both currencies are in downtrend and we shall expect constant drop in price.
We also might want to draw head-and-shoulders pattern (examples) on both charts:
EURPLN: neckline ca.4.40 , target price ca.3.90
CHFPLN: neckline: ca.2.87, target price ca.2.40 (neckline here might be sloping on a slight downward angle)
However, both Fibo levels and patterns are rather guessing game in case of currencies. We should not rely on them too much.
Sources:
[http://www.chartpatterns.com/headandshoulders.htm]
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