• FxWirePro: South Korean WON trades marginally lower against Euro after mixed economic data sets, bias remains bullish

    Source: FxWire Pro - Technicals / 19 Jul 2018 22:46:36   America/New_York

    • EUR/KRW is currently trading around 1,320 mark.
       
    • Pair made intraday high at 1,323 and low at 1,320 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 1,315 mark.
       
    • A sustained close above 1,320 will take the parity higher towards key resistances around 1,327, 1,338 and 1,358 marks respectively.
       
    • On the other side, a daily close below 1,311 will drag the parity down towards key supports around 1,305, 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 down 0.04 pct.
       
    • Korea, South June 2018 PPI growth yy increase to 2.6 (previous 2.2).
       
    • Korea, South June 2018 PPI growth mm decrease to 0.0 (previous 0.3).

    We prefer to take long position on EUR/KRW around 1,316, stop loss at 1,305 and target of 1,338.

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