Pontential US Dollar/South Korean buyFrom a top down analytical perspective, the currency is generally in an uptrend, and the trend may continue for a while due to a rising wedge spotted
KRWUSD trade ideas
USD/KRW Breakout Strategy: Eyeing Lower Support ZoneIf the current support level breaks, the next target could be the lower support zone. Once the breakout is confirmed, it's crucial to monitor for further downside potential. Stay attentive to the charts and price action to make informed decisions.
S. Korea Central Bank Maintains Rates, Hints at Future EasingKey Points:
The Bank of Korea (BoK) held its benchmark interest rate steady at 3.50% for the 12th consecutive meeting, marking the longest such streak on record.
Despite the hold, the BoK signaled a potential shift towards a more dovish monetary policy stance, suggesting rate cuts could be forthcoming if inflation and financial market conditions stabilize.
Recent data indicates inflation is moderating, with headline inflation expected to fall below the 2.6% target, and core inflation on track to meet the 2.2% projection.
The BoK acknowledges a slowdown in domestic growth but anticipates strong export performance to offset this weakness.
Shifting Focus:
A notable shift in the BoK's focus is evident, with financial stability taking center stage alongside inflation control.
Governor Rhee Chang-Yong expressed concern about the rapid rise in household debt and housing prices, highlighting the potential risks to financial stability.
The BoK acknowledges that addressing these issues may require coordinated efforts with the government beyond just monetary policy measures.
Market Expectations and Policy Outlook:
The market remains divided on the timing of the first rate cut, with forecasts ranging from August to October. The current sentiment leans towards a potential cut in October.
The BoK will likely wait for further confirmation of inflation's sustained return to the 2% target before implementing any policy changes.
High household debt levels and a depreciating Korean Won (down 7% against the USD) remain significant challenges that could delay rate cuts.
Analysts suggest the BoK is preparing for a policy shift towards easing, potentially around October, but remains cautious due to lingering economic uncertainties and the direction of U.S. monetary policy.
Conclusion:
The Bank of Korea's cautious approach reflects a commitment to balancing inflation control with safeguarding financial stability. While inflation shows signs of easing, the central bank will likely prioritize managing risks associated with household debt and currency weakness before embarking on a rate-cutting cycle. The BoK's future policy decisions will hinge on forthcoming economic data, particularly inflation and growth figures, as well as the actions of the U.S. Federal Reserve.
HomesickA half-year or so would be a good time to visit the homeland, I think.
No promises how it'll do outside of the triangle. I've seen it break both ways.
USDKRWDXY is approaching resistance.
If TVC:DXY breaks past resistance and USDKRW breaks past resistance, we could be seeing levels from 2022 return 1439.
It is imperative for us to monitor the green upward sloping line of resistance.
If we fail to close the month above this green upward line of sloping resistance (12 days left) we will likely see a correction back to 1330 - 1342 levels.
There are alot of global factors at play determining the strength of the $DXY.
If inflation does not decelerate in the US, and the FED continues to hold interest rates steady, then we will likely see a very strong DOLLAR and contrastingly see a very weak WON.
If global conditions stabilize, markets correct in a timely fashion, and raw materials prices decrease, then the WON may gain strength on the DOLLAR, as this would be a strong indication for oncoming rate cuts in the US.
big falling wedge of USDKRWIt can be raised again by the falling wedge pattern.
But, it was not completed, yet.
USDKRWUSDKRW
Simple analysis in case Korea faces harsh "bank run" or "debt(mortgage) collapse" crisis.
Cup and HandleIf someone wants to draw cup and handle pattern, it should need to break out 1289.
let's see what someone want. ;)
What do you think about this analysis?hello everyone
please tell me what do you think about this analysis
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USDKRW ABCD Bullish Pattern Trade plan and expected stop loss has been defined on the basis of ABCD bullish Pattern.
Korean Token Wemix Trend ChangeSouth Korean lawmaker Kim Nam-kook held 800,000 WEMIXs with a peak price of over 6 billion won (about $4.55 million) when he introduced a bill to delay the taxation of virtual assets such as cryptocurrencies in 2021. The prosecution has launched an investigation into the matter to confirm whether there was a violation of the law. It is reported that after all 800,000 Wemix tokens were withdrawn between late February and early March 2022, the virtual currency exchange reported the details of the transaction to the Financial Intelligence Unit, which judged it to be an unusual transaction, notified the prosecution and handed over the relevant information.
Korean Won USD head and shouldersThis chart of Korean Won shows a very clear rejection off a long term previous support area and there is today forming a right shoulder of a head and shoulders. One to watch.
USDKRW Stock Chart Fibonacci Analysis 032323 1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 1277/61.80%
USD/KRW (DXY) for March 2023
USD/ KRW ( DXY ) for March 2023
In a bing cycle of years,
USD/ KRW is open to 1650-1750.
If the corresponding line comes,
the stock market and cryptocurrency will be a good buy point.
Yet more evidence of dollar strengthHere the Korean Won is clearly failing to break above the support zone indicated on the chart. This could mean another down leg for the Won. Several other currencies are showing charts of turning points versus the USD.
Korean Gov. made decision on tax-cutKorean Gov. made decision on tax-cut, tax-cut for rich people.
Judging by the pound depreciation caused by England's ex-Prime minister, I can assume there will be a depreciation on Korean Won.
Japan's base rate changing makes these days' Won-appreciation, but it will not continue.
sooner or later, Won-depreciation is scheduled. Because the next Korean presidential election is 5years away.
Strong dollar is back!!Strong dollar is not ended
With falling wedge, dollar index can be increased again,
USDKRW analysis with stoplossWe found a pattern called Inside Bar (Bullish) on 2022 Dec 30 at 17:00 GMT on a the four hour chart suggesting the forecast will be bullish for up to nearly 48 hours.
that meets when the price faced the support drawn in the graph above .
we must take care of the stop loss and the account strength .
taking stop loss is very important .
if you like it boost our channel .
It will fall in the long runWave A has been completed, and wave B corrective is ending, and it is a triangle consisting of five small corrective waves inside, and then wave C remains in an upward motive trend
Won at a key levelThe rectangle on the chart shows that the current exchange rate of Won to USD is at a level which in the past has been supportive. Will the roles reverse and the dollar pick up strength against the Won soon? That's my hunch.
USDKRW 15 MIN IDEA HELLO GUYS THIS MY IDEA 💡ABOUT USDKRW is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this LONG position..
and when the price come back to this area, strong buyers will be push up the market again..
UP TREND + Resistance from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like and follow thanks
