20091031 - EURPLN, CHFPLN

The EURPLN rallied this week, but the daily buy signal has not been not generated yet:

eurpln_20091031

The CHFPLN chart is alike:

chfpln_20091031

Both currencies showed us some volatility in past period.
Nevertheless, the primary trend is still down. As per technical approach, unless primary downtrend breaks, those rallies should be used to liquidate our long positions.

4 comments:

  1. GregorskiNovember 1, 2009 at 1:17 AM

    I follow you currecy comments with interest.

    Where do you think CHF-PLN is going in the next 3-6 months.

    ReplyDelete
  2. kisiel2November 2, 2009 at 7:00 PM

    In my (subjective) opinion it will be lower than today as per primary downtrend.
    Nevertheless, I'm trying not to fix my opinion. It makes no sense, especially in currency markets. Polish Zloty is quite volatile asset nowadays.

    Sorry for late answer, I did not have access to blog until now.

    ReplyDelete
  3. GregorskiNovember 6, 2009 at 11:07 AM

    I understand your reluctance to give a definite answer. My feeling is that the Polish Zloty was over-sold and therefore is still under-valued considering that the economic situation in Poland is quite good compared to many countries.

    ReplyDelete
  4. kisiel2November 11, 2009 at 7:10 AM

    Please check note in this post.

    ReplyDelete

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