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EURCZK

EURCZK - Perfectly Bullish on 1-Hour Chart!📈 EURCZK - Perfectly Bullish on 1-Hour Chart! 🐂 Trade Plan: LONG 🚀 🎯 Entry (Buy Stop): 24.12181 🛡️ Stop Loss (SL): 24.01775 🎯 Take Profit 1 (TP1): 24.22590 🎯 Take Profit 2 (TP2): 24.32990 📈 Technical Analysis Overview: - The EURCZK currency pair is displaying a picture-perfect bullish trend on the 1-hour chart, indicating strong upward momentum. - The trend line confirms the bullish sentiment, adding further confidence to the trade setup. - The Momentum indicator (RSI) is not showing any signs of divergence, validating the upward momentum and the potential continuation of the bullish trend. Trade Idea 💡 Based on the technical analysis, we suggest a LONG position on EURCZK with a Buy Stop order at 24.12181. The Stop Loss should be set at 24.01775 to protect against any potential adverse moves. We have identified two potential Take Profit levels: TP1 at 24.22590 and TP2 at 24.32990, aiming for maximizing profit as the bullish trend continues. 🚨 Disclaimer: Trading the financial markets involves risk, and past performance is not indicative of future results. Please do your own research and consider your risk tolerance before making any investment decisions. Happy trading! 📈💹 #InvestWisely #TradeResponsibly #GoodLuck #EURCZK #Forex #BullishTrend #TechnicalAnalysis #TradingOpportunity
Long
by T-Q
EUR/CZK Is the price ready to make the retracement?I will make a multi time frame analysis to give you an idea of what the price could do next Monthly: The price is currently over extended. When price is overextended, we always could expect a retracement to happen next. The price could be getting ready to make the retracement soon. Weekly: The price is also over extended. In the weekly we can see also that the price is currently consolidating. This consolidation could be an accumulation period which means that the price could be getting ready to make the retracement. Daily: We clearly can see that the price is in a consolidation period. To look for a long position we have to wait until the consolidation is over.
Long
by Wiiso
EUR and ECB: Dovish for bonds, but not for EURECB frontloading PEPP purchases isn’t a negative for EUR/USD. It helps to underscore the latest market narrative of tentative stability in core bond yields, in turn taking away support from USD. EUR/USD to move above 1.25 in summer. The main winner from the subsequent stability in core bond markets is EM FX, mainly the high yielders that got hit last month. Frontload PEPP purchases is not bad news for EUR/USD The European Central Bank surprised with the announcement of frontloaded Pandemic Emergency Purchase Programme (PEPP) purchases (see ECB Review), but in terms of the dovish impact on underling eurozone assets, this is more a story for the eurozone bond market than the euro itself. As we argued in the ECB Cribsheet, as long as the whole PEPP envelope is not extended, the negative impact on the euro should be limited as this only changes the pace of the bond purchases, but not the overall size. For a more meaningful (negative) impact on the euro, the size of the PEPP envelope should have to be increased. Such a potential move from the ECB is still rather far away and unlikely, in our view. If anything, the ECB decision to lean against the rising bond yields is a positive for EUR/USD as more bond buying helps to underscore the very latest market narrative of the tentative stability in core bond yields. This in turn is (a) negative for USD, the key beneficiary of the UST sell-off in February (largely because it triggered a positioning squeeze in G10 and EM currencies) and (b) positive for cyclical FX and also for EUR/USD. Moreover, the fact that the ECB language is now less downbeat (‘’risks have become more balanced’) has also helped to offset any dovish impact from frontloading the PEPP purchases on the euro. Constructive EUR/USD outlook We reiterate our bullish EUR/USD view. Not only does today’s ECB decision help to limit the key USD tailwind of late (sharply rising UST yields), but as the eurozone economy starts to recover in the second quarter (with the pace of vaccination set to increase), EUR/USD should start moving higher, further helped by the deeply negative US front-end real rates (note: US CPI should push above 3.5% during 2Q). We thus expect EUR/USD to move above 1.2500 this summer. EM FX the big beneficiary from ECB attempt to stabilise the bond market The big winner from the ECB's decision to front-load PEPP purchases should be Emerging Market FX. This FX segment was under material pressure in February as the UST sold off. But now, with another hint at stability in the core bond market, EM FX will be given some more breathing room. With most of the EM currencies trading in undervalued territory and local EM bond markets selling off throughout February, this now offers good entry points – mainly for EM high yielders which got particularly exposed via the bond channel during the February sell-off. The expected rise in EUR/USD is also a favourable factor for the low yielding Central and Eastern European FX, which should benefit from the EUR/USD overlay. We continue to see CZK as the most attractive currency in the region as the Czech National Bank remains hawkish (and should hike rates twice this year), the currency is undervalued vs EUR and the Czech current account should remain in surplus this year. Original Article: think.ing.com By Petr Krpata, CFA, Chief EMEA FX and IR Strategist at ING. think.ing.com Content Disclaimer: The information in the publication is not an investment recommendation and it is not an investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. Read more: think.ing.com
by ING_Think
1
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
Czech Republic's Producer Price Index (PPI) reportThe pair will break down from an uptrend channel towards its previous low. A small recovery is better than no recovery at all. This is the scenario for the EUR/CZK pair. On Friday, October 16, Czech Republic published its Producer Price Index (PPI) reports. The month-over-month report posted a 0.2% growth for the month of September against a decline of -0.3% in August. Meanwhile, the YoY report was still in the negative territory at -0.4% but slightly higher than August’s result of -0.5%. The result also beat analysts’ estimates of -0.7%. Looking at France’s Thursday report for Consumer Price Index (CPI) reports, however, Czechia’s figures were better. The second-largest economy in Europe posted a -0.5% decline in its CPI MoM. This figure was the steepest decline in the said report since January 2019. On the other hand, the zero percent growth of the YoY report for CPI was the lowest result CPI YoY since March 2018.
Short
by Financebroker
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
Positive news from the eurozonePositive news from the eurozone is buoying the beloved single currency against the Czech koruna. Bears will have trouble trying to push the pair downwards because the euro finally receives good news from its economic activities. The euro to Czech koruna trading pair should climb towards its resistance before the second half of the month starts. The move will help bullish investors maintain the dominance of the 50-day moving average against the 200-day moving average in the trading sessions. Moreover, The EU statistics agency announced earlier today that it believes that consumers have immediately returned to shops in May after the lockdowns were eased. The agency said that it estimates a sharp rebound in sales on the month following sharp declines in March and April. Aside from that, a survey found that investor morale in the bloc is starting to gradually recover after the coronavirus pandemic struck the region harshly.
Long
by Financebroker
The EUR/CZK will bounce back from a major support lineThe pair will bounce back from a major support line, sending the pair higher towards a key resistance line. Czech Republic had its biggest GDP decline for the decade on Q1 2020 where it posted -3.3% growth. The OECD expects Czechia to further decline in the coming quarters to become the fifth most infected country by the coronavirus pandemic in Europe. Forecast for the full year was at -9.6% on optimistic view and -13.2% if the country’s COVID-19 cases had its second wave. Meanwhile, a 7.7% economic recovery in 2021 is expected by analysts. The four spots above Prague in the list of most infected countries were the current and former members of the European Union. The UK was at the top spot followed by Italy, Spain, and France. The 2nd, 3rd, and 4th spots were members of the single currency bloc. However, the intervention of the EU’s economic powerhouse, Germany, is expected to keep the single currency afloat.
Long
by Financebroker
1
Bears are looking to avoid another upward reversal from EUR/CZKBears are looking to avoid another upward reversal from the pair and are determined to bring the pair lower towards its support. Unlike other currencies in the region, the Czech koruna has been significantly lagging behind in terms of performance against the euro. The main reason for its prior weakness is the negativity around Czech bonds. Earlier this month, the Czech Finance Ministry reportedly sold about 9.7 billion Czech korunas of three bonds, significantly lower than the previous sales. The Czech Republic has seen a huge spike in borrowing with the demand in the country’s debt market high following the previous rate cuts from the central bank. The main factor that will help the Czech koruna now is the news about the country reopening its economy and its borders. The rate of new cases and even deaths for the coronavirus in the Czech Republic has significantly declined, and now the country wants to return to normal.
Short
by Financebroker
EUR/CZK will fail to break down from a “Falling Widening Wedge”The pair will fail to break down from a “Falling Widening Wedge” pattern resistance line. The European Union is due to publish major reports today, February 27. Among these reports were European Business Climate and European Consumer Confidence. The two (2) reports posted negative results on the previous month. These figures reflect the current economic status of the largest trading bloc in the world. In addition to the weak figures on the two (2) reports were the declining Eurozone M3 Money Supply report. Data shows that M3 (coins, notes, cash convertible assets, and short-term and long-term deposits) declined by 5.0%. Meanwhile, the bloc still has a sluggish inflation result. The weak M3 figures will drag the single currency in coming sessions. Meanwhile, the low tax burden for each household in Czech Republic is one (1) of the lowest in the European Union The highest was Germany at 38.3%.
Short
by Financebroker