USDCZK Long OpportunityToo late for entry on the south side of this trade, currently waiting for a minimized risk for our highest potential reward scenario. Waiting for Price Action to show out at our area of support.
USDCZK
USD/CZK will reverse back in today’s sessionThe pair will reverse back in today’s session following last Friday’s weak candle, sending the pair lower toward its previous low. Czechia introduced its digital taxation system during the meeting of the EU’s finance ministers in Brussels. The move by Prague was in addition to the growing number of EU-member states introducing a digital taxation bill. The proposed taxation system targets large US technology companies like Apple, Facebook, and Google. Margrethe Vestager, who led the world’s largest tax case complain against Apple for $14 billion, is currently serving as Competition Minister for the second term under the commission of Ursula von der Leyen. On the other hand, the United States warned that it will retaliate to Czechia in the form of tariffs once the Czech Parliament passed the bill. Under the bill, the government will tax technology companies with more than $100 billion in market capitalization by 7%.
USDCZK Short IdeaAn aggressive entry would be to enter at opening of market but i'd rather wait for a clear 4hr close before entering this set up assuring us that price will continue lower.
USDCZK: Structured Long term Buy opportunity.The pair is trading within a +1.5years Channel Up (1M RSI = 52.074, MACD = -0.009, Highs/Lows = 0.0000, ADX = 35.324). This month it extended the rebound of the last Higher Low and also held the 1D MA200 (orange line). Even though the 1D MA50 is applying Resistance at the moment, we are expecting a steady uptrend within the blue shaded area, in the same manner as the previous time. Our Target Zone is 23.6900 - 23.8350.
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USDCZK long opportunity $$$$$$Hello traders, price has recently bounced off the lower band, forming a double bottom like structure...........a buy is in order
USDCZK To Fall A Bit?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.
USDCZK BEARISH SHARKFOREXCOM:USDCZK Formed a bearish shark pattern. RSI is very overbought. It could reach 38.2% as first target or 61.8% as second target
USDCZK Buy SignalPattern: 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).
USDCZK Lower Long SignalPattern: Channel Up on 1D.
Signal: Bullish if the price hits the inner (dashed) trend line.
Target: 23.2000.
USDCZK Exotic Setup!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 shoulders to the upside.
-We're in a rising channel and price just made a strong impulse move from the bottom of the channel
-The reward/risk is good for the setup (given the distance between daily S/R levels)
Entry, Stops and Targets
-Long Entry: 22.904 (Enter long after price pulls back, never chase a trade)
-Stop Loss: 22.7508(Set stop below the daily reversal candle)
-Take Profit: 23.2098 (Set target at a minimum of 2 times your stop depending on entry)
= 2R
*Trade Safe and at your own discretion!*
Short USD/CZKClear 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.
USDCZK Sell signalPattern: Channel Down on 4H.
Signal: Bearish if the dashed line within the Channel Down breaks.
Target: 22.5350 (expected Lower Low).
USDCZK: Buy the 1D Higher 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.
USDCZK after Short covering rally and 20.80 support retestFrom 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.
USDCZK Buy IdeaUSDCZK Buy Idea @Monthly Demand Zone (20.2897 - 19.5947)
Buy Limit: 20.3125
Stop Loss: 19.5036
Take Profit: 21.8163
USDCZK - Sell setup is in the progress and Buy at the 0.786USDCZK 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.
USDCZK - Possible reboundAfter 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.
