Technicals

Add as a preferred source on Google

FxWirePro: South Korean won trades almost flat after mixed economic data, bias remains neutral

EUR/KRW is currently trading around 1,254.3 mark. Pair made intraday high at 1,255.2 and low at 1,254.1 levels. Intraday bias remains neutral for the moment. A sustained close above 1,253.8 will take the parity higher to…

1 min read
FxWirePro: South Korean won trades almost flat after mixed economic data, bias remains neutral
Image from the original EconoTimes article

Read the original article

  • EUR/KRW is currently trading around 1,254.3 mark.
     
  • Pair made intraday high at 1,255.2 and low at 1,254.1 levels.
     
  • Intraday bias remains neutral for the moment.
     
  • A sustained close above 1,253.8 will take the parity higher towards key resistances around 1,268, 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively.
     
  • On the other side, a daily close below 1,253.8 will drag the parity down towards key supports around 1,246.6, 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 0.82 pct.
     
  • Korea, South June BOK manufacturing BSI decrease to 76 vs previous 77.
     
  • Korea, South April industrial output yy increase to 0.9 % (forecast -1.2 %) vs previous -4 % (revised from -4.3 %).
     
  • Korea, South April industrial output growth increase to 3.4 % (fcast 1 %) vs prev -2.2 % (revised from -2.5 %).

We prefer to take long position on EUR/KRW only above 1,257, stop loss at 1,245 and target of 1,280.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560