• FxWirePro: South Korean WON trades almost flat after BOK’s interest rate decision

    Source: FxWire Pro - Technicals / 01 Dec 2019 09:29:46   America/New_York

    • EUR/KRW is currently trading around 1,297 mark.
       
    • It made intraday high at 1,297 and low at 1,296 levels.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 1,302 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 0.72 point lower at 2,103.20.
       
    • South Korea’s Nov interest rate stands at 1.25 vs 1.25 previous release.
       
    • South Korea’s industrial production stands at -2.5 vs 0.4 previous release (expected -1.8).
       
    • South Korea’s retail sale stands at -0.5 vs -2.2 previous release.

    We prefer to take long position on EUR/KRW only above 1,304, stop loss at 1,292 and target of 1,319.

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