20090530 - EURPLN, CHFPLN

The EURPLN has broken trendline and made higher high:



The CHFPLN chart looks alike:


Last market actions negate the symmetrical triangle formation (this post).

Both currencies generated the daily buy signals, but the weekly downtrend remains intact.

We should observe the market closely in the next week, especially if the last weekly higher highs (4.60 for EURPLN, 3.05 for CHFPLN) are broken - in that case we should consider possible trend reversal.

The polish Monetary Policy Council, cut the mandatory reserve rate to 3% from 3.5% (here).

Sources:
[http://online.wsj.com/article/BT-CO-20090527-709610.html]