20081031

The WIG Index seem to lost its momentum after reaching target from intraday formation (this post). The medium-term buy signal will be generated after crossing the 29700, the sell signal is below 24100:



Intraday chart is still bullish, but note the uptrend line has been broken (short-term sell signal after crossing intraday low of 27530, short-term buy signal after crossing 28450):



EURPLN is heading down for few days and the price has rebounced near the Fibo level of 38.2%.

However EURPLN it's still making the higher lows & higher highs and that is uptrend by definition. Breaking the 3.2674 (weekly low) will generate medium-term sell signal, crossing 3.9819 will give us medium-term buy signal:



The CHFPLN is also in uptrend (higher low & higher highs pattern on weekly chart). Crossing the level of 2.7297 (weekly high) will give us buy signal and crossing the 2.0436 will result in sell signal:



Not much can be said about currencies. Unfortunately, a differences in those high/low signal values are far too big for any forecasting. The Fibo levels allow retracements up to 61.8% of the swing size, therefore we also cannot say trend direction from that.

However, the good sign for polish mortgages is failing LIBOR CHR 6M and 3M. There is quite interesting article from Bloomberg about latest currency volatility and its impact on eastern European economies.

I’m going for three-weeks holidays in November, thus don’t expect daily updates for this time.

Sources:
[http://bloomberg.com/apps/news?pid=20601109&sid=awd1vGnyyBJQ]
[http://www.tradesignalonline.com/Markets/Security.aspx?id=2711&cid=3016] [http://www.tradesignalonline.com/Markets/Security.aspx?id=2714&cid=3016]