- EUR/KRW is currently trading around 1,303 mark.
- It made intraday high at 1,305 and low at 1,303 levels.
- Intraday bias remains neutral till the time pair holds key support at 1,294 mark.
- A sustained close above 1,304 will take the parity higher towards key resistances around 1,315, 1,327 and 1,340 marks respectively.
- On the other side, a daily close below 1,304 will drag the parity down towards key supports around 1,287, 1,278, 1,268, 1,257, 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.
- Korea, South April 2019 export growth prelim increase to -2 % (forecast -5 %) vs previous -8.2 %.
- Korea, South April 2019 trade balance prelim decrease to 4.12 usd vs previous 5.21 usd.
- Korea, South April 2019 import growth prelim increase to 2.4 % (forecast 0.3 %) vs previous -6.7 %.
We prefer to take long position on EUR/KRW around 1,300, stop loss 1,287 and target of 1,315.
