FxWirePro: South Korean won falls as consumer sentiment index data misses expectations
EUR/KRW is currently trading around 1,328 mark. It made intraday high at 1,328 and low at 1,325 levels. Intraday bias remains slightly bullish for the moment. A sustained close above 1,324 will take the parity higher tow…
It made intraday high at 1,328 and low at 1,325 levels.
Intraday bias remains slightly bullish for the moment.
A sustained close above 1,324 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,324 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.
Korea, South May 2019 consumer sentiment index decrease to 97.9 balance vs previous 101.6 balance.
Seoul shares open up 0.03 pct.
We prefer to take long position on EUR/KRW only above 1,330, stop loss 1,320 and target of 1,358.
