FxWirePro: South Korean won trades marginally higher after CPI, manufacturing PMI data
EUR/KRW is currently trading around 1,300 mark. It made intraday high at 1,304 and low at 1,300 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,304 mark. A sustained close above 1,304 w…
It made intraday high at 1,304 and low at 1,300 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,304 mark.
A sustained close above 1,304 will take the parity higher towards key resistances around 1,315, 1,327 and 1,340 marks respectively.
On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,287, 1,278, 1,268, 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Korea, South April 2019 Nikkei markit manufacturing PMI increase to 50.2 vs previous 48.8.
Korea, South April 2019 CPI growth mm increase to 0.4 % (forecast 0.2 %) vs previous -0.2 %.
Korea, South April 2019 CPI growth yy increase to 0.6 % (forecast 0.4 %) vs previous 0.4 %.
Seoul shares open down 0.48 pct.
We prefer to take short position on EUR/KRW around 1,302, stop loss 1,309 and target of 1,294/1,287.
