FxWirePro: South Korean won trades marginally higher on robust consumer sentiment index data
EUR/KRW is currently trading around 1,289 mark. It made intraday high at 1,291 and low at 1,289 levels. Intraday bias remains slightly bearish for the moment. A sustained close above 1,289 will take the parity higher tow…
It made intraday high at 1,291 and low at 1,289 levels.
Intraday bias remains slightly bearish for the moment.
A sustained close above 1,289 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,289 will drag the parity down towards key supports around 1,277, 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.
Seoul shares open down 0.56 pct.
Korea, South April 2019 consumer sentiment index increase to 101.6 balance vs previous- 99.8 balance.
We prefer to take short position on EUR/KRW only below 1,287, stop loss 1,295 and target of 1,277.
