20100703 - EURPLN, CHFPLN

The EURPLN still moves between 4.00 - 4.20:

The CHFPLN has generated strong buy signal, when level of 3.00 has been broken:

That's a definitely buy signal and those are not good news for polish mortgage owners.
However, let's take look at long-term chart:

What is worth mentioning is this psychological level of 3.00 has been broken four times in last 15 years. Last time exchange rates went as far as ca.3.35.
Over few years I have learnt, that forecasting Forex market is next to impossible; nevertheless, in my (very subjective) opinion, that is the level we should be watching now.

For polish mortgage owners - your mortgages are most probably to be paid in 20-25 years. That is a very long time, there will be few crises during that time and anything can happen. Therefore, do not panic - I believe the rates are still smaller than mortgages in PLN.

20100702

The WIG Index gain +1.11%:

The Warsaw Stock Exchange is quite strong in comparison to US market. We are still above February's low and primary uptrend has not been broken yet.

The S&P500 is still above psychological level of 1000, but US market does not looks good technically and fundamentally (here).

Sources:
[http://www.swingtradeonline.com/jackswrap/7/2010/2/]

20100701

The WIG Index fell -0.07%:

The market has fallen to important level of 38900. Breaking this level will generate strong sell signal.
However, we need to remember, that we are still in primary uptrend.

The S&P500 has touched the psychological level of 1000:

The US markets are important indicator, thus we shall observe them closely.