2009/01/31
20090131 – EURPLN, CHFPLN
The EURPLN seems to continue its rally:
The uptrend still remains very strong. The high of 4.4656 hasn’t been broken yet (price is still in error margin); nevertheless the odds are it will be crossed and new buy signal will be generated.
The CHFPLN has similar situation, however, the level of 3 PLN per 1 CHF has psychological meaning:
Therefore I would also wait for clear and confirmed breakout this level, before giving out a buy signal.
Generally speaking, both currencies are in uptrend and there is no sign of trend reversal as of now. Both currencies are near the important levels and any scenario is possible. We shall watch them carefully in the incoming week.
Also, there are economic related protests and riots are occurring around the world from Iceland to China (here).
Sources:
[http://hubpages.com/hub/Worldwide-Economic-Protests-and-Riots]
2009/01/30
20090130
Today was rather boring session – greater volume, but still not much of action in the market:
Unfortunately, this week did not shown us the direction of market. It seems that traders are very careful now. Generally speaking, there is not much appetite for risk now in all markets.
Brian’s video summarizing the week (here) – quite pessimistic.
Another US bank gone (here).
2009/01/29
20090129
There was almost no trading at today’s session:
Yesterday’s rally in US market did not help WSE. The situation haven’t changed – the WIG Index is at the edge of fall. Very small volume makes it even more dangerous. Nevertheless, the market is still above the yearly low and we still have to wait for clarification.
The 850 million USD stimulus plan was introduced in US. There is some discussion about gold fundamentals (here).
An interesting article about hedge funds industry in 2009 (here).
Sources:
[http://seekingalpha.com/article/117279-850b-stimulus-plan-signals-gold-take-off]
[http://seekingalpha.com/article/117289-hedge-funds-will-the-bloodbath-continue-in-2009]
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