- EUR/KRW is currently trading around 1,281 mark.
- It made intraday high at 1,283 and low at 1,280 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,290 mark.
- A sustained close above 1,281 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,268, 1,257, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Korea, South Nov 2018 current account bal nsa decrease to 5.06 usd vs previous 9.19 usd (revised from 9.19 usd).
- Seoul shares open up 0.08 pct.
We prefer to take long position on EUR/KRW only above 1,290, stop loss at 1,268 and target of 1,307.
