FxWirePro: EUR/KRW back above 1,320 mark, consistent close above targets 1,340 mark
EUR/KRW is currently trading around 1,321 mark. It made intraday high at 1,325 and low at 1,321 levels. Intraday bias remains slightly bearish for the moment. A sustained close above 1,323 will take the parity higher tow…
It made intraday high at 1,325 and low at 1,321 levels.
Intraday bias remains slightly bearish for the moment.
A sustained close above 1,323 will take the parity higher towards key resistances around 1,328, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,310 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 1.07 pct lower at 1,995.87 points.
We prefer to take long position on EUR/KRW around 1,320, stop loss 1,310 and target of 1,340.
