USDCZK: Playing Dollar Strength

794 15
Another option to play Dollar Strength. The USDCZK showing strong bullish momentum, hitting 21.8600 resistance level , I expect a pullback within the coming few days from that resistance, however, i would be seriously considering a long position from lower levels, possibly around the shaded area and support level near 21.23-21.000, targeting 23.5500.

Good luck

Hi Technician, I'm assuming this trade isn't active yet due to the pullback not being deep enough to trigger the long call, if at all.
Technician bickster73
Yes , but in general this is a framework or general guide for a potential trade opportunity, so anyone might choose different levels to enter. Like for example if they saw a double bottom formation based on lower time frame analysis.
broker is robbing me!
+1 Reply
What is the name of your broker?
Did you know that CZK Central Bank set a floor rate exchange @ 27 vs EUR "as long as needed"?

At the time of writing with EUR @ 1.265 it gives a USD floor @21.4 vs USD.

It looks like price is rising mechanically due to EURUSD drop. What's your take about that?
B33tcoin B33tcoin

As you can see, USDCZK is then highly correlated to EURUSD. 1% Ahead.
+1 Reply
Technician B33tcoin
Yep, most euro currencies are pretty correlated with the euro.

"At the time of writing with EUR @ 1.265 it gives a USD floor @21.4 vs USD. " It cant be calculated this way,
B33tcoin Technician
Nice insights. Did my homework on a YTD graph, DKK and CZK are quite similar to EUR. (Especially DKK!)
SEK and NOK were better candidates, respectively the worst and the best.

Technician B33tcoin
Yes, sek has been a fantastic short
Technician B33tcoin
But anyway, longing the USDCZK anywhere might be a good idea :D
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out