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FxWirePro: EUR/KRW rejects key support at 1,288 mark, bias turns bullish again

  • EUR/KRW is currently trading around 1,300 mark.
     
  • Pair made intraday high at 1,301 and low at 1,299 levels.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1,298 mark.
     
  • A sustained close above 1,298 will take the parity higher towards key resistances around 1,307, 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
     
  • On the other side, a daily close below 1,298 will drag the parity down towards key supports around 1,288, 1,277, 1,268 and 1,253 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
     
  • Seoul shares open down 0.37 pct.

We prefer to take long position on EUR/KRW around 1,298, stop loss at 1,290 and target of 1,313/1,327.

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2017-11-23 16:31:32
0m
2017-11-23 16:30:58
0m

November 23 21:00 UTC Released

KRConsumer Sentiment Ind*

Actual

112.3 Bln USD

Forecast

Previous

112.3 Bln USD

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AREconomic Activity YY*

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955 %

Forecast

-800 %

Previous

1755 %

November 23 23:50 UTC 9595m

JPForeign Bond Investment

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Forecast

Previous

-105 Bln JPY

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JPForeign Invest JP Stock

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Previous

182.4 Bln JPY

November 24 00:30 UTC 135135m

JPNikkei Mfg PMI Flash

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Forecast

Previous

52.8 bln $

November 24 09:00 UTC 645645m

DEIfo Business Climate*

Actual

Forecast

116.6 %

Previous

116.7 %

November 24 09:00 UTC 645645m

DEIfo Current Conditions*

Actual

Forecast

125 %

Previous

124.8 %

November 24 09:00 UTC 645645m

DEIfo Expectations*

Actual

Forecast

108.9 %

Previous

109.1 %

November 24 09:00 UTC 645645m

ITIndustrial Orders MM SA

Actual

Forecast

Previous

8.7 %

November 24 09:00 UTC 645645m

ITIndustrial Orders YY NSA

Actual

Forecast

Previous

12.2 %

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