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Korean Won: USD/KRW (KRW=X) plummeted to its lowest level in more than nine months

Korean Won: USD/KRW (KRW=X) plummeted to its lowest level in more than nine months

The Korean won closed at 1,126.3 won against the U.S. dollar, down 8.9 won from Tuesday’s close.

Experts say a global currency war, which would make equities, oil and emerging-market assets tumble, could have more serious consequences for the economy than the fallout from tit-for-tat tariffs slapped by the US and against imports from each other.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 1,136.26.

The projected lower bound is: 1,105.27.

The projected closing price is: 1,120.76.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 9.9986. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 19 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 52.25. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 19 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -81. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.

Rex Takasugi – TD Profile

FOREX KRW= closed up 3.350 at 1,120.000. Volume was 78% below average (consolidating) and Bollinger Bands were 10% narrower than normal.

Open High Low Close Volume___
1,116.6501,120.2001,115.4701,120.000 3,795

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,127.02 1,101.88 1,085.49
Volatility: 9 9 9
Volume: 17,818 18,451 16,735

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX KRW= is currently 3.2% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of KRW= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on KRW= and have had this outlook for the last 30 periods.