FxWirePro: South Korean won remains unchanged despite robust PPI growth data
EUR/KRW is currently trading around 1,280 mark. Pair made intraday high at 1,282 and low at 1,280 levels. Intraday bias remains neutral till the time pair holds key support at 1,277 mark. A sustained close above 1,281 wi…
Pair made intraday high at 1,282 and low at 1,280 levels.
Intraday bias remains neutral till the time pair holds key support at 1,277 mark.
A sustained close above 1,281 will take the parity higher towards key resistances around 1,288, 1,294, 1,302, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 1,246, 1,234, 1,222, 1,205 and 1,188 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 0.01 pct.
Korea, South May 2018 PPI growth yy increase to 2.2 (previous 1.7).
Korea, South May 2018 PPI growth increase to 0.2 (previous 0.1).
We prefer to take short position on EUR/KRW only below 1,277, stop loss at 1,288 and target of 1,258.
