- 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 bullish till the time pair holds key support at 1,295 mark.
- A sustained close above 1,301 will take the parity higher towards key resistances around 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.
- Seoul shares open down 0.67 pct.
- Korea, South Sep 2018 PPI growth yy decrease to 2.7 % vs previous 3 %.
- Korea, South Sep 2018 PPI growth mm decrease to 0.3 % vs previous 0.5 %.
We prefer to take long position on EUR/KRW around 1,301, stop loss at 1,294 and target of 1,315.