- EUR/KRW is currently trading around 1,289 mark.
- Pair made intraday high at 1,289 and low at 1,286 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,285 mark.
- A sustained close above 1,285 will take the parity higher towards key resistances around 1,295, 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
- On the other side, a daily close below 1,285 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 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 Aug 2018 industrial output yy increase to 2.5 % (forecast 1.2 %) vs previous 1 % (revised from 0.9 %).
- Korea, South Aug 2018 industrial output growth increase to 1.4 % (forecast 0.3 %) vs previous 0.5 % (revised from 0.4 %).
- Korea, South Aug 2018 service sector output growth stays flat at 0.1 % vs previous 0.1 % (revised from %).
- Korea, South Oct 2018 BOK manufacturing BSI increase to 78 balance vs previous 76 balance.
- Seoul shares open down 0.03 pct.
We prefer to take short position on EUR/KRW around 1,292, stop loss at 1,302 and target of 1,277/1,258.
