Hello traders and community, today I will tell you shortly about situation of USD/CZK
- 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...
EURCZK is moving inside a descending channel.
The market after the last retracement tested the resistance structure and now is above a minor support.
If the price will break below, according to Plancton's strategy, we can set a nice short order.
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly...
Could be a good long opportunity here if we see a bounce from the current support area. The sentiment is still quite bearish so must be cautious when looking to enter a trade. This level previously acted as support in August and this aligns with previous resistance looking further back. We are also at 0.618 Fibonacci. Before entering a long we need to look for the...
All Euro area is being swept by the second wave of coronavirus. Czech republic is no different.
Cases topped 114,005 and the daily new infections are going parabolic. That would mean they will need to enforce some sort of lockdown strategy that will, in turn, affect their economy.
Technically speaking I see a bearish channel in which the pair is currently...
The Czech Republic is poised to strengthen against the British Pound for the following reasons. The Czech Republic is uniquely positioned to recover better than the United Kingdom as an advanced manufacturing-oriented country, predominately producing cars, trains and engineering equipment. Following the one-time shock effect of the COVID-induced public health and...
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....
USD/CZK seems having reached a good support after a long downtrend!
- BULLISH ENGULFING PATTERN appeared on the 11st of June
- BEARISH MOMENTUM looks always weaker
- MACD LINE is really closed to cross the SIGNAL LINE
Remember to put a stop loss in order to secure your capital!
Not a financial advice.
Enjoy your trade!
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 market is in a discending channel and couldnt break the historical high of 2015-2017.
Now it just reached the discending trendline and is near the 0.618 fib retracement level.
If the envoirment will give us a bearish signal we can look for a possible short till the lower resistance of the market.
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💡 USDCZK technicaly based idea, we can see price is bounce from bottom trend line, candels formation strong...