Fxwirepro: South Korean Won Depreciates Against Euro As South Korea’s Cpi Data Fails to Meet Expectations

  • EUR/KRW is currently trading around 1,190 mark.
     
  • Pair made intraday high at 1,192 and low at 1,189 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1,188 mark.
     
  • A daily close below 1,189 will drag the parity down towards key supports around 1,184, 1,178, 1,163 and 1,154 marks respectively.
     
  • Alternatively, a sustained close above 1,189 will take the parity higher towards key resistances around 1,202, 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
     
  • Seoul shares open down 0.11 pct at 2165.23.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • South Korea’s March CPI growth decreases to 0.0 % (forecast -0.2 %) vs previous 0.3 %.
     
  • South Korea’s March CPI growth y/y increases to 2.2 % (forecast 2.00 %) vs previous 1.9 %.

    We prefer to take short position in EUR/KRW around 1,192, stop loss at 1,198 and target of 1,178/1,172.

The material has been provided by InstaForex Company – www.instaforex.com

The post Fxwirepro: South Korean Won Depreciates Against Euro As South Korea’s Cpi Data Fails to Meet Expectations appeared first on fastforexprofit.com, الفوركس بالنسبة لك.

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