Hi, this is my analysis for USDKRW pair in different timeframes. I see the price is moving up and about to reverse, we have one confirmation from RSI divergence right now, but it's not enough. We should see the price to loose momentum and show some bearish strength once it reaches to our important area covered with ellipse shape in cyan. It's 60-70% setup, if it...
USDKRW Daily Timeframe
USDKRW is falling and it might be big one
WARNING there might be pullbacks on the way down and this strategy cannot predict them but do not worry it will give you profit at the end
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Bitcoin has often been traded at a higher price than overseas in Korea.
Each time, Bitcoin plunged.
This phenomenon was called 'KIMP(Kimchi premium, Korea Premium)' in Korea.
Bitcoin is now traded at 15% higher prices than overseas in Korea.
It is expected that Bitcoin will plunge soon.
📌 KRW for the Yearly Close
This brings into an important consideration for review the long-term KRW chart, the plan chosen by sellers has been able to lure in late unaware buyers at the highs because of the simple nature of the impulse employed. By trapping the highs and aiming for the negative break in the yearly close, it is a very bearish sign.
The KOSPI has topped as expected and foreign investors are beginning to cash out.
Current fundamentals show that export volume has declined by almost half and a strong KRW is killing competitiveness and denting profits on exporting companies which should translate to drop in stock value.
USDKRW should hit 1140 in short/mid term and come back down to the 1100...
- USDKRW is getting close to reaching the multi decade long support in the 1,100 - 1,090 range
- Price is currently outside the lower Monthly BB band
- Increasing covid cases worldwide, double dip recession in EU, and uncertainty on a smooth transfer of power in the US added to the highest number of Covid cases are brewing the perfect storm for a flight back into USD
USD_KRW RECOVERING FROM FALLOUT
(1) The pair will face resistance confluence
(2) A good pullback trade is expected
(3) Don't miss the moment
LIKE and SUBSCRIBE for VIBEZ
- Value in short term upward trend versus growth
- Cyclical stocks rolling over versus Defensive stocks
- S&P Low Volatility ETFs starting to outperform the S&P 500 on a relative basis
- US Small Caps (IWM) neutral vs US Large Caps (SPY)
- Emerging Market equities neutral vs Developed Market Equities
- Safe-Havens Surging
📌 A short update here for those tracking USDKRW ... It has been a very slippery pig since the last update:
Here buyers stormed into control and chose to occupy the bid protecting 1140 via Covid flows. The relieving of this profit taking has become a bit more enterprising possibly via the...