FxWirePro: EUR/KRW back above 1,310 mark, bias remains bullish
EUR/KRW is currently trading around 1,313 mark. It made intraday high at 1,314 and low at 1,312 levels. Intraday bias remains bullish till the time pair holds key support at 1,305 mark. A sustained close above 1,310 will…
It made intraday high at 1,314 and low at 1,312 levels.
Intraday bias remains bullish till the time pair holds key support at 1,305 mark.
A sustained close above 1,310 will take the parity higher towards key resistances around 1,319, 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
South Korea’s Kospi was trading 0.09 point lower at 2,080.75.
We prefer to take long position on EUR/KRW around 1,310, stop loss at 1,301 and target of 1,319/1,327.
