USD CZK Technical Analysis | USD CZK Trading: 2020-10-16 | IFCM
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USD CZK Technical Analysis - USD CZK Trading: 2020-10-16

USD/CZK Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 23,45

Buy Stop

Below 22,4

Stop Loss

Mary Wild
Senior Analytical Expert
Articles 2058
IndicatorSignal
RSI Neutral
MACD Sell
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

USD/CZK Chart Analysis

USD/CZK Chart Analysis

USD/CZK Technical Analysis

On the daily timeframe, USDCZK: D1 is in a short-term neutral range and is trying to continue moving up. A number of technical analysis indicators generated signals for further growth. We do not rule out a bullish move if USDCZK rises above its latest high and the 200-day moving average line: 23.45. This level can be used as an entry point. We can set a stop loss below the Parabolic signal, the last 3 lower fractals and the lower Bollinger line: 22.4. After opening a pending order, we move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop loss (22.4) without activating the order (23.45), we recommend to delete the order: the market sustains internal changes that have not been taken into account.

Fundamental Analysis of Forex - USD/CZK

The number of patients with coronavirus increased dramatically in the Czech Republic. The country's government introduced strict quarantine until early November. Will the USDCZK quotes grow ?

An upward movement signifies the weakening of the Swedish krona against the US dollar. This can be facilitated by some negative forecasts. The Czech National Bank (CNB) expects the Czech GDP to fall by 8.2% in 2020, and the Czech Ministry of Finance projects a downturn by 6.6%. The CNB and US Federal Reserve rates are now at the same level of 0.25%. At the same time, inflation in the Czech Republic in annual terms is 3.2%, which is much higher than in the USA (1.4%). No significant economic statistics are expected in the Czech Republic next week.

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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