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USD/CZK Potential Upward Movement

USD/CZK Long-Term Trend: Bullish

Key Resistance Levels: 22.09785, 22.30143, 22.31000.

Key Support Levels: 21.94846, 21.80339, 21.80000.

Daily Chart:

The price on the higher time frame found support around the 21.75000 CZK level and reversed to move higher.  The market succeeded to break the daily resistance (now support) around the 2194846 CZK mark and is expected to move higher in the coming hours.

USD/CZK Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair broke out of the Wyckoff accumulation phase to the upside with the help of big bullish bars. Now the market is traded above the 2188962 CZK mark inside a bullish flag formation. We could a breakout of the flag to the upside and a continuation of the main trend toward the next key level.

Signal Idea:

Buy Limit Order @ 21.95622

TP 1 @ 22.09077

TP 2 @ 22.30143

Stop Loss @ 21.88962

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. please focus on major pair:) its will be usefull

    • Hello Ariel.

      Yeah sure our main focus will be on the major pairs. But unfortunately the market doesn’t always provide opportunities on the major pairs so we seek different markets which are the exotic ones.

      Be aware that trading the exotic pairs is more expensive since they have higher spread.

      Have a happy trading and thanks for your comment.

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