olly48

EUR/CZK Potential Long

Long
FOREXCOM:EURCZK   Euro / Czech Koruna
Could 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

Comments

Was wondering if you had much luck with this in the end?
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