- EUR/KRW is currently trading around 1,313 mark.
- It made intraday high at 1,314 and low at 1,313 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,318 mark.
- A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
- On the other side, a daily close below 1,308 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Korea, South May 2019 industrial output growth decrease to -1.7 % (forecast -0.6 %) vs previous 1.9 % (revised from 1.6 %).
- Korea, South May 2019 service sector output growth decrease to 0.1 % vs previous 0.4 % (revised from 0.3 %).
- Korea, South May 2019 industrial output yy decrease to -0.2 % (forecast -1.1 %) vs previous 0.2 % (revised from -0.1 %).
- Seoul shares open up 0.03 pct.
We prefer to take short position on EUR/KRW only below 1,311, stop loss 1,320 and target of 1,294.
