20090411 - EURPLN, CHFPLN

The EURPLN has broken the level of 4.40 (this post) and weekly sell signal has been generated:



The CHFPLN is still on support:



We have weekly downtrend on both currencies. Target prices are as per Fibo 168% level, however there is no reliable way to forecast currencies and we should not stick to those levels.

More complex EURPLN analysis (as per Elliott's Wave Theory) can be found on Lem's blog (here, chart here).

Sources:
[http://lemansa.wordpress.com/2009/04/05/fusy-na-tydzien-1509/ (via Google Language Tools)]
[http://en.wikipedia.org/wiki/Elliott_wave_principle]