EUR/CZK recently broke the extended Triangle chart pattern identified by Autochartist on the daily charts. The Length of this Triangle is equal to 167 candles. Autochartist rates the overall Quality of this chart pattern at the 7 bar level as a result of the slow Initial Trend (3 bars), significant Uniformity (7 bars) and higher Clarity (8 bars). Autochartist measures the strength of this breakout at the maximum 10 bar level – which increases the probability that this currency pair will soon rise toward the Forecast Price 26.1566, as can also be seen from the PowerStats chart below.
As you can see from the following PowerStats chart, all of the daily Expected Price Range calculated for EUR/CZK for tomorrow (from 25.4721 to 25.6909) stands above the broken resistance trend line of the above Triangle – which further heightens the likelihood that EUR/CZK will continue to rise tomorrow.