FxWirePro: EUR/KRW hits fresh 3-week high at 1,313 mark, sustained close above targets 1,338 mark

• EUR/KRW is currently trading around 1,312 mark.
   
• Pair made intraday high at 1,314 and low at 1,312 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,313 mark.
   
• A sustained close above 1,313 will take the parity higher towards key resistances around 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,313 will drag the parity down towards key supports around 1,303, 1,298, 1,289, 1,277, 1,268 and 1,253 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Seoul shares open down 0.04 pct.
   
• South Korea Oct unemployment rate decrease to 3.6 % vs previous 3.7 %.
   
• South Korea Oct export growth revised stays flat at 7.1 % vs previous 7.1 %.
   
• South Korea Oct import growth revised increase to 7.9 % vs previous 7.4 %.
   
• South Korea Oct trade balance revised decrease to 7.14 bln usd vs previous 7.30 bln usd.

We prefer to take long position on EUR/KRW only above 1,314, stop loss at 1,303 and target of 1,327/1,338.

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