FxWirePro: EUR/KRW hovers around 1,200 mark, sustained close above targets 1,214
EUR/KRW is currently trading around 1,198 mark. Pair made intraday high at 1,199 and low at 1,197 levels. Intraday bias remains neutral till the time pair holds key support at 1,198 mark. A daily close below 1,198 will d…
Pair made intraday high at 1,199 and low at 1,197 levels.
Intraday bias remains neutral till the time pair holds key support at 1,198 mark.
A daily close below 1,198 will drag the parity down towards key supports around 1,188, 1,178, 1,163 and 1,154 marks respectively.
Alternatively, a sustained close above 1,198 will take the parity higher towards key resistances around 1,205, 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
Seoul shares open up 0.04 pct at 2161.90.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s March FX reserves increases to 375.30 bln $ vs previous 373.91 bln $.
South Korea’s February current account balance decreases to 10.01 bln $ vs previous 10.51 bln $.
South Korea’s February current account balance decreases to 10.01 bln $ vs previous 10.05 bln $ (revised from 10.51 bln $).
We prefer to take long position in EUR/KRW around 1,195, stop loss at 1,189 and target of 1,205/1,214.
