Price 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.
There 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...
Hello 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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The 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...
The improvements seen by the Czech economy is helping bearish investors keep the USD/CZK pair grounded. Prices aren’t expected to rise anytime soon and are on track to crash towards their support level by the first few days of September. The move should push the 50-day moving average much lower against the 200-day moving average, suggesting a strong market for...