FxWirePro: EUR/KRW breaks key resistance at 1,263 mark, stay bullish
EUR/KRW is currently trading around 1,266 mark. Pair made intraday high at 1,266 and low at 1,262 levels. Intraday bias remains bullish till the time pair holds key resistance at 1,256 marks. A sustained close above 1,26…
Pair made intraday high at 1,266 and low at 1,262 levels.
Intraday bias remains bullish till the time pair holds key resistance at 1,256 marks.
A sustained close above 1,263 will take the parity higher towards key resistances around 1,274, 1,287 and 1,304 marks respectively.
On the other side, a daily close below 1,263 will drag the parity down towards key supports around 1,256, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.06 pct at 2361.64.
We prefer to take long position in EUR/KRW around 1,264, stop loss 1,256 and target of 1,287.
