FxWirePro: EUR/KRW back above 1,290 mark, stay bullish only above 1,295
EUR/KRW is currently trading around 1,294 mark. Pair made intraday high at 1,294 and low at 1,289 levels. Intraday bias remains bullish till the time pair holds key support at 1,288 mark. A sustained close above 1,289 wi…
Pair made intraday high at 1,294 and low at 1,289 levels.
Intraday bias remains bullish till the time pair holds key support at 1,288 mark.
A sustained close above 1,289 will take the parity higher towards key resistances around 1,295, 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,289 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 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.
South Korean banks will be closed in observance of National Foundation Day.
We prefer to take long position on EUR/KRW only above 1,295, stop loss at 1,288 and target of 1,315.
