Hello 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...
Expect a retest of support in the next few days. Then there will be 2 scenarios :
A) Price bounce marking a double bottom and possible bull run or back to the range
B) Support is broken -> Ideal scenario as this would open up a huge gap to the downside
How to trade it? Well, I have entered on the break of 4H support and will reassess when D support is reached....
Hi there!
Once again, all explanations are in the chart. Pretty simple setup to be honest.
If the pair closes above most recent swing high the idea will be invalidated.
If you have any questions please leave them in comments.
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Do you have a different view and analysis? Let us know in the comments. I love to be...
After coronavirus czech koruna has fallen a lot against dollar. The difference between top and bottom is 15%. I think right now we're painting a left shoulder. Then we will paint head and right shoulder and then we will go back to normal price of czk.
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Price was rejected by the Higher Boundary of the Descending Channel and formed the Evening Star bearish candlestick pattern. If price loses the mid line of the Descending Channel we can initiate a short position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it...
The pair is trading within a multi month Rectangle with 25.4100 being the 1M Support. This month 1D has succeeded at pricing a bottom on this support as it stopped the previous downtrend and consolidated (neutral RSI = 44.755, ADX = 16.849, CCI = -10.1188, highs/Lows = 0.0000).
We are taking this as a strong long term buy signal with 25.8300 - 25.9000 as our...
The pair is trading within a +1.5years Channel Up (1M RSI = 52.074, MACD = -0.009, Highs/Lows = 0.0000, ADX = 35.324). This month it extended the rebound of the last Higher Low and also held the 1D MA200 (orange line). Even though the 1D MA50 is applying Resistance at the moment, we are expecting a steady uptrend within the blue shaded area, in the same manner as...
The pair is trading on a year long 1W Descending Triangle with clear Lower Highs that provided optimal sell entries throughout 2019. We are currently on such a Lower High and with 1W neutral (RSI = 52.272, STOCH = 45.628, Williams = -46.569, Highs/Lows = 0.0000) we are targeting the top of the 1D Support zone (TP = 25.62400). Notice how a 1D Higher High sequence...
The price is trading within a 1D Channel Up that is now on Higher Low level (RSI = 49.861, MACD = 0.107, Highs/Lows =-0.0169). Since every Higher High is -50% the value of the previous one, then the next TP should be near 23.22625.
EURCZK is trading within a 1D Channel Down (RSI = 25.124, MACD = -0.042, Highs/Lows = -0.1628, B/BP = -0.2948) and is on its way to a Lower Low. We are short with TP = 25.2500.
