FxWirePro: South Korean won trades marginally lower as current account data misses expectations
EUR/KRW is currently trading around 1,271 mark. It made intraday high at 1,277 and low at 1,274 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,265 mark. A sustained close above 1…
It made intraday high at 1,277 and low at 1,274 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,265 mark.
A sustained close above 1,270 will take the parity higher towards key resistances around 1,278, 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Korea, South Jan 2019 trade balance revised decrease to 1.29 usd vs previous 1.34 usd.
Korea, South Jan 2019 export growth revised decrease to -5.9 % vs previous -5.8 %.
Korea, South Dec 2018 current account bal nsa decrease to 4.82 usd vs previous 5.06 usd.
Seoul shares open down 0.67 pct.
We prefer to take long position on EURKRW around 1,270, stop loss 1,264 and target of 1,278/1,288.
