FxWirePro: EUR/KRW exhibits range bound movement, bias remains slightly bullish
EUR/KRW is currently trading around 1,365 mark. It made intraday high at 1,368 and low at 1,339 levels. Intraday bias remains bullish till the time pair holds key support at 1,336 mark. A sustained close above 1,377 will…
It made intraday high at 1,368 and low at 1,339 levels.
Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
A sustained close above 1,377 will take the parity lower towards key resistances around 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 4.60 pct lower at 1,494.60 points.
We prefer to take long position on EUR/KRW around 1,364, stop loss at 1,336 and target of 1,392/1,400.
