20100508 - EURPLN, CHFPLN

The currencies setup has changed quite dramatically.
The EURPLN chart:

The volatility is quite amazing; however, the EURPLN hasn't broken the primary downtrend yet.
Nevertheless, the psychological level of 4.00 has been broken and that is important signal.

The CHFPLN chart looks event more confusing:

The exchange rate bounced from psychological level of 3.00, breaking the important high of 2.86.
That is a primary buy signal; however, I am not sure now how we should interpret the high of 2.86 as it has not been confirmed by lower low (the 2.62 low is still in error margin); therefore I would wait with transactions until significant (and confirmed) breakthrough of 3.00.

Generally speaking, it is not the time to press panic button yet. The EURPLN's exchange rate is sill in primary downtrend and the CHFPLN is under psychological level of 3.00.
However, those swings can be prologue to move significant moves, therefore we should watch them closely now.

The Germany's government accepted the bailout plan for Greece (here).

Sources:
http://www.guardian.co.uk/business/2010/may/07/debt-crisis-greece-germany