FxWirePro: South Korean won remains almost unchanged after trade balance data
EUR/KRW is currently trading around 1,303 mark. It made intraday high at 1,305 and low at 1,303 levels. Intraday bias remains neutral till the time pair holds key support at 1,294 mark. A sustained close above 1,304 will…
It made intraday high at 1,305 and low at 1,303 levels.
Intraday bias remains neutral till the time pair holds key support at 1,294 mark.
A sustained close above 1,304 will take the parity higher towards key resistances around 1,315, 1,327 and 1,340 marks respectively.
On the other side, a daily close below 1,304 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 April 2019 export growth prelim increase to -2 % (forecast -5 %) vs previous -8.2 %.
Korea, South April 2019 trade balance prelim decrease to 4.12 usd vs previous 5.21 usd.
Korea, South April 2019 import growth prelim increase to 2.4 % (forecast 0.3 %) vs previous -6.7 %.
We prefer to take long position on EUR/KRW around 1,300, stop loss 1,287 and target of 1,315.
