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Spotlight on the currencies of Ukraine’s neighboursThe USD has lived up to its classification as a safe-haven currency since the beginning of Russia’s invasion of Ukraine. Other safe-haven currencies, such as the Swiss franc and the Japanese yen, have failed in this respect. Both have lost strength over the past month and a half. The Swiss franc index has fallen 1.2% over this time, while the Japanese yen has plummeted 8.6%. The physical approximation of Switzerland to the Ukrainian border might explain why the Swiss franc has failed to live up to its safe-haven status. The same reasoning cannot be applied to the yen as Japan has a 5000-mile wide buffer between it and the locale of the conflict. Nevertheless, Switzerland is not the only European country that has been affected by the Ukraine invasion, many of them being direct or close neighbours of Ukraine. Spotlight on the currencies of Ukraine’s neighbours The currencies of several close and bordering countries of Ukraine have followed a similar pattern since Russia entered Ukraine for its ‘special military operation’ on 24 February 2022. The Czech koruna, Polish zloty, and the Hungarian forint each spent the period of 24 February until the 7 March considerably weakening against the US dollar. The US dollar strengthened in a range of 9% to 14% against these pairs. The two weeks before 24 February saw gradual but moderate de-risking in these European currencies, with the US dollar gaining in the range of 2% to 3.5%. Strangely, significant movement was seen on the bookends of this period, on the 24 February, 6 March, and 7 March. All the stranger for the very sharp reversals that took place on 8 and 9 March. This may have been when it became evident that Russia had botched its invasion. The reversals that occurred were not entirely successful in erasing the losses the currencies made since 24 February. The Czech koruna (USDCZK) has fared the best during this affair so far, weakening by only -3% and followed by the Polish zloty (USDPLN) at -4.9% and the Hungarian forint (USDHUF) at -7.8%.
by BlackBull_Markets
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 Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention! Tell us about your opinion for making better decisions in trading :) P.S.: Information provided is only educational and should not be used to take action in the market.
Long
by PrizesRises
EURCZK looking for new lows? 🦐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 structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger. Leave a comment that is helpful or encouraging. Let's master the markets together
Short
by InkyGrip
5
EUR/CZK Potential LongCould 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 environment to start changing to be more bullish, look for the MACD to start approaching 0 and the EMA's to cross using daily and 4HR timeframes. If we see a rejection of this level the first target can be at 0.382 Fibonacci on the previous leg which would be 26.550
Long
by olly48
1
Covid pushes downAll 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 trading. Unless the pair breaks the channel headed for higher highs, I keep having a negative view on this one. ***As usual, not a trading advice, merely my view for informational and educational purposes only***
Short
by SteveEnnom
COVID Long CZK/GBP: Long-Term Strength of Koruna, TA for EntryThe 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 ensued economic crisis, despite short-term decreases in the demand of personal automobiles, production of vehicles will be relatively intact, although the composition of types of vehicles may differ. Through the ECB's newest stimulus plan, Europe is subsidizing the purchases of new cars, particularly those that are more environmentally-friendly, furthering the effort to become greener. With regard to the outlook for a weaker pound following recent broad-based strengthening, we propose a two-year hold period because then talks for the Scottish quest for independence will rise to the forefront again. Scotland is one of the most valuable components of the United Kingdom and with an average polling of 54% of British citizens wanting to split from the UK, as of now, there is a tilt towards the likelihood of the split. In addition, Mr. Johnson's recent trip is likely to backfire and strengthen the desire to split, and given the Coronavirus pandemic there has been a surge towards the desire for independence, with polls increasing from 49% in March, making this the longest period over which yes votes outnumbered those for a no. Technically, time the trade by going long upon falling back to the resistance level, which we hold to be 0.034223, and holding through the British elections in two years. This resistance level also represents the 38.2% retracement from the last stark uptrend, a technically-significant level given the Fibonacci levels. See the chart for the previous testing, and strengthening, of the resistance. Fundamentally this trade is driven by the likely future increase in external demand following the coronavirus crisis. think.ing.com
Long
by LaurenTrading
USDCZK huge potential on the downsideExpect 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. Another possibility is to wait until support is reached and then assess there, the R:R will still be great. If using this option u can wait for a long bullish candle to enter long or for a break (or break and retest) to enter short. Theres no right or wrong as long as u follow a plan. If you have any questions please leave them in comments. Did you like the idea?? Give us a thumbs up!! Do you have a different view and analysis? Let us know in the comments. I love to be proven wrong. It is the only way to become better. Remember that trading is only part of your life. Do not spend all day in front of the screen!! Surf, Trade, Live!!
Short
by MicKi
USDCZK | Evening StarPlease support this idea with LIKE if you find it useful. 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 into profitable! Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial Advice.
Short
by Anpu
1
USDCZK technicaly based forecast 📌Short intro: I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas 💡 USDCZK technicaly based idea, we can see price is bounce from bottom trend line, candels formation strong bulish, technicaly indicators showing we can expect higher push up in price exepcting push till top trend line. 📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment! Thanks on supporting! All best, good luck!
by UnknownUnicorn3983388
2