20081220 - EURPLN, CHFPLN

After breaking the month high (3.98), EURPLN continues its rally:



The uptrend is clearly visibly. We might want to project Fibo levels for target price forecast:



The Fibo 61.8% will be next important level (ca.4.27), but this is very subjective and we better focus on price-action.

Not much can be said about CHFPLN:



As long-term trend is up, the odds are CHFPLN will break the monthly high (2.73) and that are no good news for polish mortgages. Alternatively, it might be base for double tops formation. However, we need to wait for breakout before we can say anything.