USD/CZK
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Market insights
Česká koruna is looking good for longsBased on weekly charts, I would say long. Long-term volatility is dropping in a downside triangle...
USDCZK Entry Price Area Of The Exponential Moving AverageWatch For A Pull Back To Support Resistance Level 21.84650, Exponential Moving Average Period 10 Level 21.87884, Exponential Moving Average Period 20 21.96575
USDCZK Trend Continuation After clear price action showing us that the market is breaking higher highs along with local areas of resistance we look for the next push up that's the 2nd wave. This is an aggressive but optimal trade respecting the 3:1 ratio for risk-reward.
USD/CZK - Bullish W Pattern - analysisHello traders and community, today I will tell you shortly about situation of USD/CZK
Trend analysis
- As you can see from the USD/CZK daily chart, we are currently forming bullish W pattern (yellow line) and also short versions of W pattern, that's why most of factors shows us about possible bullish scenario in long term. Resistance level from Fibonacci Retracement Analysis stays on 23,48 price level and Support level remains on 21,28 price level. Global trend of this pair is still bullish and therefore I recommend as a trader to open positions only if you are prepared for long time scenario (as you can see from the white lane) and close position near 23,48 price level. On the other hand for short period of time I recommend to keep tracking correct and trustworthy signals for opening positions.
Chart pattern
- Bullish W pattern formation (functioning)
Technical indicators
- RSI: market is overbought right now, that's why we are returning in borders (Bearish signal)
- MACD: market is bullish cause of MA lines are still enough close to each other and overall trend is going uptrend (Bullish signal)
- BB: Volatility of the market started increasing after range movement accomplished (Bullish signal)
- MA (10,20): MA10 is above the level of MA20 and moving upward (Bull signal)
= Bullish movement prevails
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P.S.: Information provided is only educational and should not be used to take action in the market.
USDCZK LONG TRADEThe daily chart printed a bullish inverted hammer candle at support. I am going long and targeting previous resistance.
Long opportunity for USD/CZKPrice has reached a strong support on the monthly, weekly and daily time frame.
Looking for a bounce from this point and going long, also now resting on the 0.236 Fib retracement from the highest historic point, to the lowest.
USD/CZKThere is a convergence on 1D time frame.
The fake out to the downside from the falling wedge.
The fake out has formed double bottom on 4H TF with the convergence, which is a double bullish sign.
Return to the falling wedge and bullish breakout is expected.
Also, there is a possibility of the further HnS formation on 1W TF.
This is not the financial advice.
Any feedback is welcomed.
USDCZK video top-down AnalysisHello everyone, here is the top-down analysis for USDCZK, feel free to request any pair/instrument or ask any questions in the comment section below.
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Best of luck!
Czech Republic's Consumer Price Index reportsThe pair will fail to break out from a major downtrend resistance line, which will send the pair lower towards its previous low. While western Europe is struggling to revive its economy, its eastern counterpart led by the V4 nations is helping the region to go back to its feet. The Czech Republic posted its Consumer Price Index reports on Friday, October 16. The CPI MoM report managed to pull itself after it grew by 0.2% from the decline of -0.3% for the month of August. Meanwhile, the country’s year-over-year figure for CPI made a slight improvement from -0.5% to -0.4% for September. Another report that supports Czechia’s recovery was its inflation rate report. Poland, Hungary, and the Czech Republic posted 3.8%, 3.4%, and 3.3% inflation, respectively. All of whom managed to reach their inflation target of +-3.05. Investors are expected to push the Czech Koruna higher against the US dollar due to the uncertainty brought by the US elections.
USDCZKjust a possibility of what can potentially happen a consolidation before a drop to the daily support or it can directly just drop
