06 dubna 2009

6/4 CEE currencies update

CEE currencies:
We have seen another big sell-off on EUR/CEE3 last week, but it seems like the region was once again victim of illiquidity and speculative players. Because not too many positive numbers came from this region last days. Mostly reaction on stock market rally, low liquidity and some speculation about moving CEE currencies faster to Eurozone.

IDEA: Buy EURPLN around current levels (4,44-4,43), where 4,40 looks like pretty good support again. Stoploss below this level @ 4,3850 offer. Initial target 4,50. If this broken, might see 4,60 again.