CZKEUR closes within previous day's range after lackluster session
Czech Koruna/Euro (CZKEUR) Technical Analysis Report for Oct 15, 2020 | by Techniquant Editorial Team
CZKEUR ended Thursday at 0.036556 losing 74 pips (-0.2%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (CZKEUR as at Oct 15, 2020):
Thursday's trading range has been 203 pips (0.55%), that's below the last trading month's daily average range of 310 pips. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for CZKEUR.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to the key technical resistance level at 0.036720 (R1).
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 0.036406 where further sell stops might get activated.