FxWirePro: South Korean won trades almost flat against euro after CPI data
EUR/KRW is currently trading around 1,299 mark. Pair made intraday high at 1,300 and low at 1,299 levels. Intraday bias remains neutral for the moment. A sustained close above 1,302 will take the parity higher towards ke…
Pair made intraday high at 1,300 and low at 1,299 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,315, 1,327 and 1,338 marks respectively.
On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.63 pct.
Korea, South June 2018 CPI growth -0.2 (previous 0.1).
Korea, South June 2018 CPI growth yy 1.5 (forecast 1.7, previous 1.5 ).
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,294 and target of 1,307/1,315.
