- EUR/KRW is currently trading around 1,282 mark.
- It made intraday high at 1,283 and low at 1,282 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,265 mark.
- A sustained close above 1,283 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,283 will drag the parity down towards key supports around 1,272, 1,265, 1,257, 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 down 0.13 pct.
- Korea, South Feb 2019 trade balance revised decrease to 2.96 usd vs previous 3.1 usd.
- Korea, South Feb 2019 import growth revised stays flat at -12.6 % vs previous -12.6 %.
- Korea, South Feb 2019 export growth revised decrease to -11.4 % vs previous -11.1 %.
- Korea, South Feb 2019 import price growth yy increase to 3.6 % vs previous 2.5 %.
- Korea, South Feb 2019 export price growth yy decrease to -2.4 % vs previous -1.4 %.
We prefer to take long position on EUR/KRW only above 1,284, stop loss at 1,270 and target of 1,294 mark.
