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CZECH KORUNA / U.S. DOLLAR

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CZKUSD trade ideas

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
Czech Republic's Consumer Price Index reportsThe 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 CPI MoM report managed to pull itself after it grew by 0.2% from the decline of -0.3% for the month of August. Meanwhile, the country’s year-over-year figure for CPI made a slight improvement from -0.5% to -0.4% for September. Another report that supports Czechia’s recovery was its inflation rate report. Poland, Hungary, and the Czech Republic posted 3.8%, 3.4%, and 3.3% inflation, respectively. All of whom managed to reach their inflation target of +-3.05. Investors are expected to push the Czech Koruna higher against the US dollar due to the uncertainty brought by the US elections.
Short
by Financebroker
The improvements seen by the Czech economyThe 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 bears. Earlier this month, the Czech National Bank announced that it would leave its rates unmoved at 0.25% as expected. The move momentarily slowed down the Czech koruna but the significantly better than projected CPI results from the Czech Republic helped it to eventually regain its footing. On the other hand, the lackluster results produced by the US monthly retail sales report for July have caused the greenback to further lose its poise. The US retail sales dramatically went down from 8.4% to 1.2%, coming in much lower than prior expectations of about 1.9%.
Short
by Financebroker