Crossing the last high (4.79) would be the negation of medium-term (weekly) downtrend and would make the current situation even more complex.
The downtrend on CHFPLN's chart seem to stronger:
Breaking the level of 2.88 suggest downtrend continuation, however it might be the bear trap as the decline from 3.15 - 3.25 area was pretty fast.
As always - the currencies are quite hard to forecast, therefore we limit ourselves only to classical trend following.
The Bossa.pl portal prepared a interesting post in its blog section. The article analyses quite simple but effective system for currency trading (here).
Sources:
[http://blogi.bossa.pl/?p=867 (via Google Language Tools)]
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