- EUR/KRW is currently trading around 1,304 mark.
- Pair made intraday high at 1,304 and low at 1,302 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,305 mark.
- A sustained close above 1,304 will take the parity higher towards key resistances around 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,304 will drag the parity down towards key supports around 1,299, 1,289, 1,277, 1,268 and 1,253 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Seoul shares open up 0.21 pct.
- South Korea Oct export price growth y/y decrease to 8 % vs previous 11.2 % (revised from 10.9 %).
- South Korea Oct import price growth y/y decrease to 6.8 % vs previous 10.8 % (revised from 10.7 %).
We prefer to take long position on EUR/KRW only above 1,305, stop loss at 1,298 and target of 1,313/1,327.
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