EUR/CZK 1H Chart: Upside potential apparent

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 1D 1W 1MN
MACD (12; 26; 9) Sell Buy N/A
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

EUR/CZK is moving in line with a ten-month ascending channel. The most recent test of its upper boundary occurred two weeks ago when the pair peaked at a one-year high at 28.20. It was followed by a decline in a newly-formed junior channel. 

The pair's neat movement in this pattern suggests that its next move should be north towards the upper channel line located near the 25.70 mark. The Euro has to overcome the 55-and 100-hour SMAs in order to confirm this bullish scenario.  

The general price movement is expected to be downwards within the following weeks until the lower line of the senior channel is reached near 25.45.

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