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KRW

EUR/KRW Weekly Bullish Flag Pattern – Targeting the Pink Zone'm observing a bullish flag pattern forming on the weekly chart of EUR/KRW. This continuation pattern indicates the potential for an upward move. The price has consolidated within the flag, and I anticipate a breakout to the upside. Target: My target is in the pink zone, which I've identified as a key resistance area. I believe this is where the price could move next based on historical price action . Strategy: If the price reaches the pink zone, it may be a good time to reduce long positions and secure profits. I'll continue monitoring for signs of a breakout and further confirmation of this bullish trend. Always remember to manage risk and adjust your positions accordingly.
Long
by WaveRiders2
ridethepig | KOSPI for the Yearly Close📌 The beauty of Korea is revealing itself right on time... the breakout is difficult to maintain as can be seen on the yearly close, the slingshot which turned out to a correct play for buyers has unlocked the potential for a major rally in 2021. Capital has its eyes on Korea (and a few others) for the advantage in its currency (KRW) and economic mobility across the continent. For different reasons to India, but with well placed influence, Korea has the chance to really outperform in the next decade. EM Equities and currencies are going to provide a lot of opportunities for 2020: With that recognition behind us, I am going to be spending a lot more time in Asia for this chapter in the economic cycle. From 2020 - 2030 we are going to see a the great migration of capital from West to East. The ability for KOSPI to break 2,600 is showing how flexible the bid really is into the year close. We also have to take note of the differentiation of outside candles on the yearly: Here deploying capital to Korea for a strong move in 2021, though it involves some understanding of the relevant sectors (we will dig deeper into some single stock opportunities and sectors later in the month so start to prepare your charts). Thanks as usual for keeping the feedback coming 👍 or 👎
KRX:KOSPILong
by ridethepig
ridethepig | KRW for the Yearly Close📌 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. Moves like these, do not happen often and are noteworthy. Another Yearly outside candle which as a matter of fact, should fix itself towards 900. What is important for us to track here is the 'pressure' break which is being played after the Fed capitulation. So it is worth considering adding to shorts as this looks set to continue in 2021. 📌 Nevertheless, I will continue to go through the technicals across the board, before we dig into macro details together towards the end of year for a final talk shop. Thanks for keeping all the feedback coming 👍 or 👎
Short
by ridethepig
KRW UpdateBlew right through the resistance, headed to the next. Almost impossible to short foreign index ETFs with the dollar tanking. The tanking dollar will obviously lead to inflation, even if the economy tanks next year. Funny that it was Korea that was concerned about stagflation last year.... seems like the US has more to worry about now. Just remember we don't manufacture jack chit in the US, and everything that's imported will become more expensive. Buy your appliances before this crap goes parabolic.
by hungry_hippo
KRW/USD Korean CurrencyCUrrency looks like it got rejected by resistance, should whipsaw here.... hopefully down next week. When trading foreign index ETFs like EWW, EWY, EWZ, or TUR, you gotta pay attention to the currency trade as well. The funds are NOT hedged against currency which means you're playing both the index and the currency. You can trade these ETFs to take advantage of currency trades, take a look at TUR. Between Biden being elected, vaccine, and the issue in Armenia being resolved, TUR went up like crazy this month.... (I missed the boat on it though I made a killing a couple of years ago when the Turkish Lira crashed)
by hungry_hippo