Good risk reward ratioWON has appreciated against USD for 2017. The psychological support is 1000 in the year 2008, a critical support zone and one that I think the Korean Government would not let it falls through. I am taking a small position and would add more along the way. Longby dchua1969Updated 221
Pivotal Point for USD/KRWUSD/KRW pair is testing its resistance. It is generally a sign that if you get a bullish confirmation from this area (green box), the bull trend will continue to upper red box. However, if it fails to break through, you will see a pull back, most likely towards the lower red box. Would love to hear your feedbacks. :)by kokopuffsUpdated 0
Buy USDKRW RR1.22 - Welcome discussionShort KRW for tension with China, domestic political caos Technically bounce off from the support. by jackypwmlnPublished 2
Watching USDKRWGenerally it has down trend in upper time frame, it is expected to have some correctionLongby hasanzadPublished 5
USDKRW going to gain should this chart pattern be validPattern will fail if the bottom line of parallel channel be broken.Longby appyPublished 4
Buy USDKRW at the bounce of support 1122 w/ T1 1141 and T2 1159After a double bottom we see the USDKRW in a fresh uptrendLongby dani2020Published 1
USD/KRW forms “head and shoulder” pattern, dips or bounce..?USD/KRW forms “head and shoulder” pattern, dips or bounce back conditional upon price action at neckline: Fundamental briefing: The risk-on feel in emerging markets extending further on a dovish Fed or recovery in oil prices alongside foreign inflows into equities and bonds being sustained. Although Korean currency has won in the recent past, KRW is one of the biggest potential losers from continued JPY and CNY weakness, which we expect. South Korea has the highest export correlation and lowest export complementarity with Japan and China. Technical glimpse: USDKRW hits multi-month lows From a technical perspective, USDKRW is trading near multi-month lows at 1119.60. The pair has also formed a “head and shoulder” pattern on the weekly chart with the head at 1244.30, shoulder 1 at 1208.60 and with the shoulder 2 at 1196.10 levels. A decisive break below 1120 & 1110 (the neckline of a distinct head and shoulders pattern) would be a bearish signal for USDKRW, opening the door for further KRW strength. Otherwise, we foresee equal chances of a sharp bounce back towards 1175 levels. To substantiate the effects of "head and shoulder" pattern, on daily charts, bears have managed to evidence more bearish candles such as the gap down that signifies the weakness to prolong further. However, RSI on the contrary at 40 levels has bounced back several times in the recent history and prices have spiked accordingly. Well, reiterating above pivot points of 1120 and 1110 would be closely watched on a closing basis. One can expect higher targets up to 1175 as long as the current level holds on, otherwise, the long-term bearish trend is quite certain, bears can even drag up to 1099 levels where we can see next strong support.by FxWireProPublished 9
Korean won gains but capped up to 1150 amid puzzling LT trendTechnically, USDKRW takes support at 1152.32 levels cushioned by BoK’s unexpected rate cut event. The duos (leading indicators) that signal momentum in Bull Run is converging ongoing price rallies (observe daily chart the strength index bounces back as & when it approaches 40 levels). Stochastic curves evidence %K crossover right from oversold territory. On the contrary, 7DMA crosses below 21DMA which is absolutely a sell signal, but we foresee that there’s a room for prices bounces up to 1150 as this sell signal is a lagging indication. Upcoming price behaviour should follow this signal. We expect one more rate cut, as one-off cut may raise market interest rates, the key question now is whether there will be any further BoK rate cuts in the near future, and our answer is ‘yes.’ We do think the downside risks to growth will continue to outweigh the upside risks for the time being. The most important factor that leads us to expect at least one more rate cut is the expectation that a one-off cut will increase the chances of a rise in market interest rates. In 2013, we saw a one-off rate cut in May being followed by a significant rise in market interest rates. Admittedly, the jump in the market interest rate in 2013 was driven by the ‘Taper Tantrum’, i.e. worries over the tapering of the Fed’s quantitative easing. While GDP forecasts for H2 2016 and 2017 have been lowered slightly, to 2.7% and 2.8%, respectively (formerly 2.8% and 3.0%), which should also be in line with the BoK’s revised forecasts in July. We also maintain our base scenario of a supplementary budget to avoid a ‘fiscal cliff’ at the end of this year and remove the 50bp rate hike from our long-term BoK policy forecast. Our end-2019 BoK policy rate now stands at 0.5%. But similar concerns regarding the Fed’s tightening action also apply to the current situation: the possibility of a Fed rate hike will be a major source of risk for the global financial markets in H2 this year. We conclude that the BoK will implement one more 25bp rate cut to maximise the impact of its monetary easing actions. The most likely timing for a rate cut will be Q3, before the likely Fed rate hike in December.by FxWireProPublished 5
Cypher Pattern USD/KRWBack testing and practicing. Please let me know what I can work on if improvements are needed.by beng88Published 2
USDKRW (Daily)USDKRW (Daily) Potential IHS formation. Elliot Wave 5, abc potential completion. Bull Flag continuation.Longby rvPublished 2