- EUR/KRW is currently trading around 1,300 mark.
- It made intraday high at 1,300 and low at 1,294 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,287 mark.
- A sustained close above 1,294 will take the parity higher towards key resistances around 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,287, 1,278, 1,268, 1,257, 1,246 and 1,234 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 BOK manufacturing BSI decrease to 73 balance vs previous 75 balance.
- Korea, South March 2019 industrial output yy increase to -2.8 % (forecast -1 %) vs prev -3.4 % (revised from -2.7 %).
- Korea, South March 2019 industrial output growth increase to 1.4 % (forecast 0.8 %) vs previous -3.4 % (revised from -2.6 %).
- Korea, South Mar 2019 service sector output growth increase to 0.2 % vs prev -1.6 % (revised from -1.1 %).
- Seoul shares open down 0.14 pct.
We prefer to take long position on EUR/KRW around 1,295, stop loss 1,287 and target of 1,315.
