FxWirePro: South Korean won remains almost unchanged after CPI, GDP data
EUR/KRW is currently trading around 1,291 mark. Pair made intraday high at 1,293 and low at 1,291 levels. Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark. A sustained c…
Pair made intraday high at 1,293 and low at 1,291 levels.
Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark.
A sustained close above 1,299 will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,292 will drag the parity down towards key supports around 1,282, 1,277, 1,267, 1,258, 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.
Seoul shares open up 0.08 pct.
Korea, South Aug 2018 CPI growth mm increase to 0.5 % (forecast 0.4 %) vs previous 0.2 %.
Korea, South Aug 2018 CPI growth yy decrease to 1.4 % (forecast 1.3 %) vs previous 1.5 %.
Korea, South Q2 2018 GDP growth qq revised decrease to 0.6 % vs previous 0.7 %.
Korea, South Aug 2018 CPI NSA increase to 104.91 vs previous 104.37.
We prefer to take short position on EUR/KRW around 1,292, stop loss at 1,301 and target of 1,277.
