EUR/CZK 1H Chart: Rising wedge in sight
The Euro has been appreciating against the Czech Koruna after the currency pair reversed from the lower boundary of a long-term ascending channel at 25.43.
As apparent on the chart, the rate has been trading in a rising wedge since the end of September. The pair's neat movement in this pattern suggests that its next move should be north towards the Fibonacci 23.60% retracement at 25.94.
The general price movement is expected to be upside within the following weeks until the 2018 high is reached at 26.14.
As apparent on the chart, the rate has been trading in a rising wedge since the end of September. The pair's neat movement in this pattern suggests that its next move should be north towards the Fibonacci 23.60% retracement at 25.94.
The general price movement is expected to be upside within the following weeks until the 2018 high is reached at 26.14.
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