• FxWirePro: South Korean WON trades marginally lower as BOK keeps base rate steady

    Source: FxWire Pro - Technicals / 17 Oct 2018 21:35:29   America/New_York

    • EUR/KRW is currently trading around 1,300 mark.
       
    • Pair made intraday high at 1,300 and low at 1,295 levels.
       
    • Intraday bias remains slightly bullish till the time pair holds key support at 1,295 mark.
       
    • A sustained close above 1,295 will take the parity higher towards key resistances around 1,302, 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
       
    • On the other side, a daily close below 1,295 will drag the parity down towards key supports around 1,289, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
       
    • Korea, South Oct 2018 Bank of Korea base rate stays flat at 1.5 % (forecast 1.5 %) vs previous 1.5 %.
       
    • Seoul shares open down 0.40 pct.

    We prefer to take short position on EUR/KRW around 1,300, stop loss at 1,307 and target of 1,295/1,289.

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