FxWirePro: South Korean won remains almost unchanged after trade balance data
EUR/KRW is currently trading around 1,334 mark. It made intraday high at 1,338 and low at 1,333 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,338 mark. A sustained close above 1,333 w…
It made intraday high at 1,338 and low at 1,333 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,338 mark.
A sustained close above 1,333 will take the parity higher towards key resistances around 1,338, 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,333 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.31 pct lower at 1,851.51 points.
South Korea’s trade balance stands at 4.59B vs 5.04B previous release.
We prefer to take long position on EUR/KRW only above 1,338, stop loss at 1,328 and target of 1,358/1,377.
