Overvalued (+10%) Central European Currencies vs. USDInflation induced rate differentials over nominal exchange rates drove a steady (almost uniform) overvaluation of the Central European Currencies vs. the USD.
With present premiums around +10% a swift, near term correction is ever more likely.
LONG USDHUF, USDPLN, USDRON, USDCZK
Usdczklong
USDCZK technicaly based forecast
📌Short intro:
I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas
💡 USDCZK technicaly based idea, we can see price is bounce from bottom trend line, candels formation strong bulish, technicaly indicators showing we can expect higher push up in price exepcting push till top trend line.
📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment!
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All best, good luck!
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!*