The USD/KRW pair has completed a small “double bottom” base to suggest further near-term upside potential with initial resistance seen at 1131, per Credit Suisse. Key quotes “USD/KRW has completed a small ‘double bottom’ base to suggest a deeper correction higher, which is further reinforced by daily and weekly MACD momentum breaking higher.” “Resistance is initially seen at the 23.6% retracement of the entire 2020/2021 fall at 1131, removal of which could open the door the ‘measured base objective’ at 1142, just shy of key 2019 and 2020 lows as well as the ‘neckline’ to the very large top which is still in place at 1149/54.” “Post a lengthier corrective phase, we look for a resumption of the core bear trend, for an eventual move below the recent range lows at 1081/80, which would expose the 1054 low of 2018.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Chainlink Price Prediction: LINK on-chain metrics point to a downswing before higher highs FX Street 1 year The USD/KRW pair has completed a small “double bottom” base to suggest further near-term upside potential with initial resistance seen at 1131, per Credit Suisse. Key quotes “USD/KRW has completed a small ‘double bottom’ base to suggest a deeper correction higher, which is further reinforced by daily and weekly MACD momentum breaking higher.” “Resistance is initially seen at the 23.6% retracement of the entire 2020/2021 fall at 1131, removal of which could open the door the ‘measured base objective’ at 1142, just shy of key 2019 and 2020 lows as well as the ‘neckline’ to the very large top which… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
