The Czech authorities announced lockdown
Technical Analysis Summary USD/CZK: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Buy |
Chart Analysis
On the daily timeframe, USDCZK: D1 has exceeded the resistance line. A number of technical analysis indicators have formed signals for further growth. We do not rule out a bullish movement if USDCZK rises above its latest high (12-month high) and the upper Bollinger band: 22.67. This level can be used as an entry point. The initial risk limitation is possible below the 200-day moving average line, below the Parabolic signal and the last lower fractal: 21.67. After opening a pending order, move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (21.67) without activating the order (22.67), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of -
The Czech Republic announced a lockdown for citizens unvaccinated from Covid-19. Will the USDCZK quotes continue to rise?
The lockdown regime in the Czech Republic will operate from November 22, 2021 and may last until February 2022. Czech Minister of Health Adam Vojtěch has proposed declaring a state of emergency in the country, but has not yet been supported by the government. In theory, a lockdown could have a negative impact on the economy and on the exchange rate of the Czech crown. Since the beginning of the coronavirus epidemic in the Czech Republic, 2.02 million people have fallen ill, and 32.3 thousand people have died. Inflation in the Czech Republic in October this year reached a 13-year high and amounted to 5.8% in annual terms. The Czech National Bank's key rate is 2.75%.