USD/KRW retracement near the end of 2019
South Korea's policy to raise the salary will make this currency inflated more and continue becoming weaker and weaker to USD. Bearish trend will continue until the end of 2019, until it meets a strong resistance at 103x~104x+. Hard resistance at 101x.
In short term, salary might undermine KRW due to inflation, however, in the long-term, this policy will attract more foreign labors and eventually have a good effect on the currency. Beside, the inflation also have good impacts on Korea's export.
At this point, a good long position will be available.
Good exit at Fib retracement 0.5
For more details, see the chart analysis.
In short term, salary might undermine KRW due to inflation, however, in the long-term, this policy will attract more foreign labors and eventually have a good effect on the currency. Beside, the inflation also have good impacts on Korea's export.
At this point, a good long position will be available.
Good exit at Fib retracement 0.5
For more details, see the chart analysis.