• FxWirePro: South Korean WON trades marginally lower as consumer confidence data misses expectations

    Source: FxWire Pro - Technicals / 26 Nov 2019 21:07:51   America/New_York

    • EUR/KRW is currently trading around 1,293 mark.
       
    • It made intraday high at 1,294 and low at 1,292 levels.
       
    • Intraday bias remains neutral 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 0.24 point higher at 2,126.55.
       
    • South Korea’s consumer confidence Nov stands at 100.9 vs 98.6 previous release (expected 103.0).

    We prefer to take short position on EUR/KRW only below 1,290, stop loss at 1,302 and target of 1,274/1,265.

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