FxWirePro: South Korean won trades flat after consumer confidence index data
EUR/KRW is currently trading around 1,318 mark. It made intraday high at 1,319 and low at 1,318 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark. A sustained close above 1…
It made intraday high at 1,319 and low at 1,318 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,328, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,310 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.61 pct lower at 2,060.45 points.
South Korea July consumer confidence index at 95.9 pct vs 97.5 pct previous release.
We prefer to take long position on EUR/KRW around 1,317, stop loss 1,310 and target of 1,328/1,340.
