• FxWirePro: South Korean WON trades marginally lower in early Asia as PPI data stays flat

    Source: FxWire Pro - Technicals / 20 Sep 2018 22:28:42   America/New_York

    • EUR/KRW is currently trading around 1,314 mark.
       
    • Pair made intraday high at 1,316 and low at 1,313 levels.
       
    • Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark.
       
    • A sustained close above 1,315  will take the parity higher towards key resistances around 1,327, 1,338, 1,358 and 1,380 marks respectively.
       
    • On the other side, a daily close below 1,298, will drag the parity down towards key supports around  1,291, 1,282, 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.
       
    • Seoul shares open up 0.37 pct.
       
    • Korea, South Aug 2018 PPI growth mm stays flat at 0.5 % vs previous 0.5 % (revised from 0.4 %).

    We prefer to take long position on EUR/KRW around 1,314, stop loss at 1,308 and target of 1,327/1,338.

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