20090502 - EURPLN, CHFPLN

The EURPLN is still in a weekly downtrend:

eurpln_20090502

The CHFPLN looks alike:

chfpln_20090502

Both currencies remain in a weekly downtrend. Latest rallies seem to be reversed already (subjective opinion), but there is no technical confirmation yet and currencies like to make surprises.

The European Central Bank is expected to cut interest rates again in May (here or here).

Sources:
[http://www.forbes.com/feeds/ap/2009/05/01/ap6366628.html]
[http://www.independent.ie/business/irish/tighter-bank-standards-put-pace-of-lending-growth-at-15year-low-1725679.html]

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