The move is very dynamic. We are still below the monthly high (3.6730), that still gives us sell long-term signal:
The CHFPLN crossed weekly support of 2.3106 (medium-term buy signal):
It also did cross last monthly peek (2.3009), which give us long-term buy signal:
To tell the truth - I'm personally not convinced to long-term buy signal on CHFPLN. The weekly/monthly peeks system does not work perfectly on currencies (i.e.: take a look at Nov 2005 high, which is lower than Jun 2006, but the trend was not reversed then). I will be grateful for any different signals' suggestions, but as for now I'm staying with what I have. Lucky, I don't play on Forex - just image what those swings and leverage (1:100 usually) can do with your account.
Increase in CHFPLN can have big impact on polish mortgages (ca.80% of polish mortgages are denominated in CHF). The increase in CHFPLN and LIBOR (this post) could cause the mortgage rates to be increased even around 10-15% (from the low, my own estimations) as for now.
Update from 2008/10/12:
It seems that G7 declared that they will launch serious response to finance crisis (here). However, I could not find any details.
Sources:
[http://www.marketwatch.com/news/story/global-leaders-race-clock-imf/story.aspx?guid={44FEA396-12FB-4643-AEDA-4E49E9055338}]
Posts
No comments:
Post a Comment