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Eurczksignal

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.
Long
by Wiiso
EUR/CZK Potential LongCould be a good long opportunity here if we see a bounce from the current support area. The sentiment is still quite bearish so must be cautious when looking to enter a trade. This level previously acted as support in August and this aligns with previous resistance looking further back. We are also at 0.618 Fibonacci. Before entering a long we need to look for the environment to start changing to be more bullish, look for the MACD to start approaching 0 and the EMA's to cross using daily and 4HR timeframes. If we see a rejection of this level the first target can be at 0.382 Fibonacci on the previous leg which would be 26.550
Long
by olly48
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