• FxWirePro: South Korean WON trades marginally higher on robust current account data

    Source: FxWire Pro - Technicals / 04 Dec 2019 21:04:19   America/New_York

    • EUR/KRW is currently trading around 1,315 mark.
       
    • It made intraday high at 1,319 and low at 1,315 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 1,319 mark.
       
    • A sustained close above 1,319 will take the parity higher towards key resistances around 1,327, 1,347 and 1,363 marks respectively.
       
    • On the other side, a daily close below 1,319 will drag the parity down towards key supports around 1,311, 1,302, 1,290, 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 0.03 point lower at 2,068.27.
       
    • South Korea’s current account stands at 7.83B vs 7.48B previous release (expected 7.47B).

    We prefer to take short position on EUR/KRW only below 1,315, stop loss at 1,320 and target of 1,302.

Share on,