FxWirePro: South Korean won trades flat in early Asia, stay bearish only below 1,275 mark
EUR/KRW is currently trading around 1,276 mark. It made intraday high at 1,277 and low at 1,276 levels. Intraday bias remains neutral till the time pair holds key support at 1,275 mark. A sustained close above 1,276 will…
It made intraday high at 1,277 and low at 1,276 levels.
Intraday bias remains neutral till the time pair holds key support at 1,275 mark.
A sustained close above 1,276 will take the parity higher towards key resistances around 1,287, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,276 will drag the parity down towards key supports around 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 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 0.48 pct.
Korea, South Nov 2018 unemployment rate decrease to 3.8 % vs previous 3.9 %.
We prefer to take short position on EUR/KRW only below 1,275, stop loss at 1,282 and target of 1,257.
