20090221 - EURPLN, CHFPLN

As it was mentioned in this post, the polish government initiated a intervention in currency exchange market and converted amount of EUR to PLN (here). The effect is well visible on chart:



The situation on CHFPLN chart is similar:



The current situation can be tricky. The uptrend is still intact, but the currency market becomes more and more volatile now - the lows are closer to each other in terms of time. In current situation opening new positions can be risky, but there is not much we can tell right now.

Depending on trade style and risk management, some traders might want to move the stop loss to Thursday's low.

Update from 2009/02/22:
There is a interesting article from eGospodarka.pl portal; it gives good summary of PLN depreciation background (here).

Sources:
[http://www.money.pl/pieniadze/komentarze/artykul/konsolidacja;w;notowaniach;eur;pln,74,0,429130.html (via Google Language Tools)]
[http://www.finanse.egospodarka.pl/38146,Spekulacje-walutowe-skad-spadek-zlotego,1,48,1.html (via Google Language Tools)]