FxWirePro: South Korean won trades marginally lower as GDP data misses expectations
EUR/KRW is currently trading around 1,311 mark. Pair made intraday high at 1,312 and low at 1,308 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark. A sustained close above…
Pair made intraday high at 1,312 and low at 1,308 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark.
A sustained close above 1,308 will take the parity higher towards key resistances around 1,320, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,308 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 0.51 pct.
Korea, South Q2 2018 GDP growth qq advance releases at 0.7 (forecast 0.7, previous 1.0).
Korea, South Q2 2018 GDP growth yy advance releases at 2.9 (forecast 3, previous 2.8).
We prefer to take long position on EUR/KRW around 1,310, stop loss at 1,305 and target of 1,320.
