Hello traders,
USDCZK is currently presenting a type 2 bullish reciprocal ABCD pattern with divergence forming on the RSI in the oversold area. First target is the previous high formed by price and if price continues then second target for profits is the completion of the move at the 1.27 Fibonacci extension. 1:3 risk to reward trade for swing traders although stop loss could be reduced if a precision entry is taking by looking at price behavior on the smaller timeframes. Good luck!
USDCZK is currently presenting a type 2 bullish reciprocal ABCD pattern with divergence forming on the RSI in the oversold area. First target is the previous high formed by price and if price continues then second target for profits is the completion of the move at the 1.27 Fibonacci extension. 1:3 risk to reward trade for swing traders although stop loss could be reduced if a precision entry is taking by looking at price behavior on the smaller timeframes. Good luck!