FxWirePro: South Korean won falls after BOK’s interest rate decision
EUR/KRW is currently trading around 1,326 mark. It made intraday high at 1,327 and low at 1,321 levels. Intraday bias remains bullish till the time pair holds key support at 1,321 mark. A sustained close above 1,321 will…
It made intraday high at 1,327 and low at 1,321 levels.
Intraday bias remains bullish till the time pair holds key support at 1,321 mark.
A sustained close above 1,321 will take the parity higher towards key resistances around 1,333, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,317, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open down 0.48 pct.
Korea, South May 2019 BOK base rate stays flat at 1.75 % (forecast 1.75 %) vs previous 1.75 %
We prefer to take long position on EUR/KRW only above 1,333, stop loss 1,320 and target of 1,358.
