FxWirePro: South Korean won trades marginally lower as GDP data misses expectations
EUR/KRW is currently trading around 1,298 mark. Pair made intraday high at 1,298 and low at 1,296 levels. Intraday bias remains neutral for the moment. A sustained close above 1,302 will take the parity higher towards ke…
Pair made intraday high at 1,298 and low at 1,296 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,295 will drag the parity down towards key supports around 1,289, 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.
Seoul shares open down 2.43 pct.
Korea, South Q3 2018 GDP growth qq advance stays flat at 0.6 % (forecast 0.7 %) vs previous 0.6 %.
Korea, South Q3 2018 GDP growth yy advance decrease to 2 % (forecast 2.2 %) vs previous 2.8 %.
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,294 and target of 1,315.
