20100306 - EURPLN, CHFPLN

The EURPLN chart is very interesting now:

We have already fallen well below psychological 4.00, thus the primary sell signal has been generated.
Right now we are on the edge of another important price action level (ca.3.87), which might provide some support.

The CHFPLN is lowest since last twelve months:

In my (subjective) opinion, the CHFPLN is still in error level, thus we cannot generate primary sell signal yet.
Analogically to the EURPLN chart, we have important price action level (ca.2.57) below.

Generally speaking, both currencies look quite bearish. The sell signal for EURPLN has been generated and probably CHFPLN will generate sell signal as well.
However, we are in primary downtrend since last year and those signals are/will be only confirmations. As per technical approach we should use any rallies only to liquidate our positions (it is quite speculative maneuver).