This is huge!What is going on in the Czech Rep.? This is going to blow up, I'll keep adding until the break out, bc it is going to break out. SL very wide but I don't think is coming back down that much.
EURCZK trade ideas
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
Similar to YEN, CZK is likely artificially held upThis is another long trade of mine. Similar to Japanese Yen, I think Czech Crown is artificially propped up, so the Euro price in terms of crowns doesn't extend above 24.5 This can be deducted from CNB's balance sheet.
Czech Republic has among worst inflations out of EU bloc, and therefore this should be reflected in the currency's strength (in the form of weakness). I think it will go back to about 24.5 - 24.6 where I would take my profits and await next intervention.
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.
EURCZK BUY TRADE IDEAHello everyone, if you like the idea, do not forget to support with a like and follow.
SELL (Swing)
Entry: 25.47814
Take Profit: 25.80058
Stop Loss: 25.41718
Based on Weekly POI due to W formation. Retracement on the neckline of the W formation, entry on the 4H TF
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
