- EUR/KRW is currently trading around 1,305 mark.
- Pair made intraday high at 1,305 and low at 1,298 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1,298 mark.
- A sustained close above 1,306 will take the parity higher towards key resistances around 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
- On the other side, a daily close below 1,298 will drag the parity down towards key supports around 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 0.26 pct.
- Korea, South July 2018 Nikkei markit manufacturing PMI decrease to 48.3 vs previous 49.8.
- Korea, South July 2018 CPI growth increase to 0.2 % (forecast 0.4 %) vs previous -0.2 %.
- Korea, South July 2018 export growth prelim increase to 6.2 % (forecast 7 %) vs previous -0.2 %.
- Korea, South July 2018 import growth prelim increase to 16.2 % (forecast 16.6 %) vs previous10.8 %.
We prefer to take short position on EUR/KRW only below 1,298, stop loss at 1,315 and target of 1,277.
