- Analytics
- News and Tools
- Market News
- USD/KRW: Risk of down move towards previous gap near 1,250/1,244 – SocGen
USD/KRW: Risk of down move towards previous gap near 1,250/1,244 – SocGen
Economists at Société Générale analyze USD/KRW technical outlook.
Downward momentum is prevalent
USD/KRW rebound petered out near 1,343 in May and it recently formed a lower peak near 1,324 after failing to overcome the 200-Day Moving Average (now at 1,310) and a multi-month down sloping trend line.
Daily MACD is anchored within negative territory which denotes downward momentum is prevalent.
In case the pair struggles to cross above the 200-DMA near 1310, the decline is expected to persist towards previous up-gap near 1,250/1,244.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
