FxWirePro: South Korean won trades marginally lower against euro after BOK’s interest rate decision
EUR/KRW is currently trading around 1,316 mark. Pair made intraday high at 1,316 and low at 1,314 levels. Intraday bias remains bullish till the time pair holds key support at 1,305 mark. A sustained close above 1,315 wi…
Pair made intraday high at 1,316 and low at 1,314 levels.
Intraday bias remains bullish till the time pair holds key support at 1,305 mark.
A sustained close above 1,315 will take the parity higher towards key resistances around 1,327, 1,338 and 1,358 marks respectively.
On the other side, a daily close below 1,315 will drag the parity down towards key supports around 1,305, 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 up 0.23 pct.
Korea, South July 2018 BOK base rate stays flat to 1.5 (forecast 1.5, previous 1.5).
We prefer to take long position on EUR/KRW around 1,315, stop loss at 1,305 and target of 1,327.
