• FxWirePro: South Korean WON trades marginally lower in early Asia, upside limited

    Source: FxWire Pro - Technicals / 10 Nov 2019 20:24:44   America/New_York

    • EUR/KRW is currently trading around 1,277 mark.
       
    • It made intraday high at 1,278 and low at 1,275 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1,274 mark.
       
    • A sustained close above 1,283 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
       
    • On the other side, a daily close below 1,274 will drag the parity down towards key supports around 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 0.55 point lower at 2,126.49.

    We prefer to take short position on EUR/KRW only below 1,274, stop loss at 1,285 and target of 1,244.

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