CZKEUR closes within previous day's range after lackluster session
Czech Koruna/Euro (CZKEUR) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team
CZKEUR ended Wednesday at 0.037433 gaining 73 pips (0.2%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (CZKEUR as at Sep 16, 2020):
Wednesday's trading range has been 168 pips (0.45%), that's below the last trading month's daily average range of 205 pips. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for CZKEUR.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key technical resistance level at 0.037585 (R1).
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Selling might accelerate should prices move below the close-by swing low at 0.037242 where further sell stops could get triggered.