FxWirePro: EUR/KRW fails to find support above 1,349 mark, short term trend reversal likely
EUR/KRW is currently trading around 1,345 mark. Pair made intraday high at 1,348 and low at 1,344 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,349 mark. A sustained close ab…
Pair made intraday high at 1,348 and low at 1,344 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,349 mark.
A sustained close above 1,349 will take the parity higher towards key resistances around 1,356, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,340 will drag the parity down towards key supports around 1,326, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 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 0.39 pct.
We prefer to take long position on EUR/KRW only above 1,349, stop loss at 1,338 and target of 1,363.
