20090425 - EURPLN, CHFPLN

The EURPLN rallied over last couple of days (charts thanks to ChartStation):

eurpln_200904251

The CHFPLN looks alike:

chfpln_200904252

The currencies' swings are surprising as usual. The daily buy signals were generated; however, the weekly downtrend remains intact and we should not bet against the higher level trend.

As for head-and-shoulders patterns (previous post) - they are still intact (negation after crossing the shoulder's height).
The Fibo projections were altered as per charts.

Another four US banks defaulted this Friday (here). That gives 51 bank failures total since the credit crisis.

Sources:
[http://www.marketwatch.com/news/story/Four-banks-shuttered-credit-crunch/story.aspx?guid={982438DE-54E6-4F2E-84FF-FA3F1556A589}]

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