2009/05/30
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]
2009/05/29
20090529
There was quite volatile session today. The WIG Index fell -0.45%:
We still have to wait unless the market leave the 29000-30700 area. The oscillators divergences are bearish, declining volume suggest general indecision among traders.
The US market finished more optimistic (here) and that can be a clue for the next week.
I’m going for short holidays, therefore don’t expect updates for the most part of next week.
Sources:
[http://www.marketwatch.com/story/us-stocks-slightly-higher-in-choppy-trade-materials-up]
2009/05/28
20090528
The WIG Index lost -1.08%:
Impasse situation, area 29000-30700 holds and nothing new can be said. The lower lows on oscillators are well visible and that is not encouraging sign.
Interesting interview with the founder of the Vanguard Group – Jack Bogle (here).
Sources:
[http://www.marketwatch.com/story/vanguards-bogle-time-is-on-your-side]