- EUR/KRW is currently trading around 1,277 mark.
- It made intraday high at 1,279 and low at 1,276 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,280 mark.
- A sustained close above 1,280 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,280 will drag the parity down towards key supports around 1,270, 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 Feb 2019 trade balance prelim increase to 3.1 usd vs previous 1.29 usd.
- Korea, South Feb 2019 import growth prelim decrease to -12.6 % (forecast -11.6 %) vs previous -1.7 %.
- Korea, South Feb 2019 export growth prelim decrease to -11.1 % (forecast -10.8 %) vs previous -5.9 %.
- South Korea Finance ministry - Result of Hanoi summit could increase volatility in financial market.
- South Korea Finance ministry - On alert to monitor financial markets, will act to calm markets if needed.
We prefer to go long on EURKRW only above 1,280, stop loss at 1,270 and target of 1,294/1,302.
