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.
