• FxWirePro: South Korean WON falls in early Asia after manufacturing bsi index data

    Source: FxWire Pro - Technicals / 27 Nov 2019 20:35:58   America/New_York

    • EUR/KRW is currently trading around 1,296 mark.
       
    • It made intraday high at 1,297 and low at 1,293 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 1,290 mark.
       
    • A sustained close above 1,302 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
       
    • On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • South Korea’s Kospi was trading 0.14 point lower at 2,124.10.
       
    • South Korea’s manufacturing BSI index stands at 74.0 vs 74.0 previous release.

    We prefer to take long position on EUR/KRW around 1,295, stop loss at 1,288 and target of 1,304/1,319.

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