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FxWirePro: South Korean won remains unchanged after export – import price index data, faces immediate support at 1,275 mark

EUR/KRW is currently trading around 1,278 mark It made intraday high at 1,279 and low at 1,277 levels. Intraday bias remains neutral till the time pair holds key support at 1,275 mark. A sustained close above 1,278 will …

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FxWirePro: South Korean won remains unchanged after export – import price index data, faces immediate support at 1,275 mark
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  • EUR/KRW is currently trading around 1,278 mark
     
  • It made intraday high at 1,279 and low at 1,277 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1,275 mark.
     
  • A sustained close above 1,278 will take the parity higher towards key resistances around 1,287, 1,294, 1,307, 1,315 and 1,327 marks respectively.
     
  • On the other side, a daily close below 1,278 will drag the parity down towards key supports around 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 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 0.23 pct.
     
  • Korea, South Nov 2018 import price growth yy decrease to 6 % vs previous 10.9 % (revised from 10.7 %).
     
  • Korea, South Nov 2018 export price growth yy decrease to 0.3 % vs previous 1.1 % (revised from 1.3 %).

We prefer to take long position on EUR/KRW only above 1,280, stop loss at 1,275 and target of 1,287/1,294.

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