FxWirePro: South Korean won trades marginally lower against euro after mixed economic data sets, bias remains bullish
EUR/KRW is currently trading around 1,320 mark. Pair made intraday high at 1,323 and low at 1,320 levels. Intraday bias remains bullish till the time pair holds key support at 1,315 mark. A sustained close above 1,320 wi…
Pair made intraday high at 1,323 and low at 1,320 levels.
Intraday bias remains bullish till the time pair holds key support at 1,315 mark.
A sustained close above 1,320 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 1,311 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 down 0.04 pct.
Korea, South June 2018 PPI growth yy increase to 2.6 (previous 2.2).
Korea, South June 2018 PPI growth mm decrease to 0.0 (previous 0.3).
We prefer to take long position on EUR/KRW around 1,316, stop loss at 1,305 and target of 1,338.
