2022-07-29

Korean Won Chart

More charts below, but USDKRW is the most interesting. It has has sustained moves higher during the 1997 Asian Crisis and the 2008 financial panic. I laid down a green horizontal to highlight this. If the trendlines have any value, they say USDKRW will go much higher, if it is going higher. Not particularly insightful given everything going on, but given the base and lack of any upside target except prior highs, it looks like a 20 percent devaluation from here. Note that I expect a pullback in the DXY here. This could be a bigger move in a dollar pullback, then breakout scenario. CNY,JPY,EUR below the jump.

No comments:

Post a Comment