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FxWirePro: South Korean won trades flat in early Asia, stay bearish only below 1,275 mark

  • EUR/KRW is currently trading around 1,276 mark.
     
  • It made intraday high at 1,277 and low at 1,276 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1,275 mark.
     
  • A sustained close above 1,276 will take the parity higher towards key resistances around 1,287, 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 up 0.48 pct.
     
  • Korea, South Nov 2018 unemployment rate decrease to 3.8 % vs previous 3.9 %.

We prefer to take short position on EUR/KRW only below 1,275, stop loss at 1,282 and target of 1,257.

  • Market Data
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