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- EUR/KRW is currently trading around 1,286 mark.
- It made intraday high at 1,287 and low at 1,284 levels.
- Intraday bias remains bullish till the time pair holds key support at 1,276 mark.
- A sustained close above 1,284 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
- On the other side, a daily close below 1,276 will drag the parity down towards key supports around 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Seoul shares open down 0.36 pct.
- Korea, South Nov 2018 PPI growth yy decrease to 1.6 % vs previous 2.2 %
- Korea, South Nov 2018 PPI growth mm decrease to -0.7 % vs previous -0.4 %.
We prefer to take long position on EUR/KRW around 1,285, stop loss at 1,276 and target of 1,294/1,300.
