USDCZK price has arrived to a daily support/resistance zone, and it didn't break
USDCZK is facing a resistance on D!. We may see a little bearish move before the pair could break to the upside, if that may ensue.
FOREXCOM:USDCZK Formed a bearish shark pattern. RSI is very overbought. It could reach 38.2% as first target or 61.8% as second target
Pattern: Channel Up on 1W. Signal: Bullish as the price hit the 1D MA200 and rebounded just above the Higher Low of the Channel. Target: 23.300 (inner Higher High).
Pattern: Channel Up on 1D. Signal: Bullish if the price hits the inner (dashed) trend line. Target: 23.2000.
Analysis -USDCZK looking bullish after showing signs of reversal. Sellers pushed price down into support but buyers brought it back up above support before the daily candle close. -The price action resulted in a daily pinbar setup AT SUPPORT which is a bullish sign. -On the 1H time frame, price just broke a bearish trendline or the neckline of a head and...
Clear range pattern developed. Price is at major resistance. Breakout here is possible but playing odds that resistance holds and we retest support over the next few days.
Pattern: Channel Down on 4H. Signal: Bearish if the dashed line within the Channel Down breaks. Target: 22.5350 (expected Lower Low).
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.
Targets as usual pivot points... any good comment???
From February to 23.April 18 was there some accumulation thats triggered big short covering rally. On Monthly timeframe its downtrend and 22.5 level is acting as very strong resistance. 21.80 there are big selling pressure.
OANDA:USDCZK will probably turn around on the resistence.
USDCZK Buy Idea @Monthly Demand Zone (20.2897 - 19.5947) Buy Limit: 20.3125 Stop Loss: 19.5036 Take Profit: 21.8163
USDCZK seems to be making a bigger correction than previously forecasted. We are in position and about to take it off with profit when and if it starts to pullback as shown in the chart.
After a sharply fall with bearish divergence, price is approaching to key support level 21.235 which coincides with 0.61% fibo since the last push at 18.56 in October 2013. Good opportunity for following the progress of the pair and catch a rebound.
We can see a descending trendline. Since June 15, 2016 price is stabilizing in a sideway zone.
Good morning ladies and gentlemen and whoever doesn't fit into two genders anymore. Currently USD/CZK is showing potential downtrend. I've identified this by checking the W and D chart. W chart shows a sideways momentum whereas the D chart shows a distinctive downtrend. I have also seen a double top form which could be beneficial for the analysis. If price...