FxWirePro: South Korean won trades marginally higher on robust BSI manufacturing index
EUR/KRW is currently trading around 1,295 mark. Pair made intraday high at 1,299 and low at 1,295 levels. Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark. A sustained c…
Pair made intraday high at 1,299 and low at 1,295 levels.
Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark.
A sustained close above 1,297 will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,297 will drag the parity down towards key supports around 1,289, 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 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 0.18 pct.
Korea, South Sep 2018 BOK manufacturing BSI increase to 76 balance vs previous 74 balance.
We prefer to take short position on EUR/KRW only below 1,290, stop loss at 1,298 and target of 1,277.
