FxWirePro: South Korean won trades flat despite higher than expected manufacturing BSI index data
EUR/KRW is currently trading around 1,311 mark. It made intraday high at 1,314 and low at 1,311 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,318 mark. A sustained close above 1,318 w…
It made intraday high at 1,314 and low at 1,311 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,318 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,308 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.
Seoul shares open down 0.05 pct.
Korea, South July 2019 BOK manufacturing BSI increase to 76 balance vs previous 72 balance.
We prefer to take short position on EUR/KRW only below 1,311, stop loss 1,320 and target of 1,294.
