FxWirePro: EUR/KRW fails to sustain below 1,320 mark, bias turn bullish again
EUR/KRW is currently trading around 1,330 mark. Pair made intraday high at 1,331 and low at 1,322 levels. Intraday bias remains bullish till the time pair holds key support at 1,320 mark. A sustained close above 1,330 wi…
Pair made intraday high at 1,331 and low at 1,322 levels.
Intraday bias remains bullish till the time pair holds key support at 1,320 mark.
A sustained close above 1,330 will take the parity higher towards key resistances around 1,338, 1,351 and 1,377 marks respectively.
On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,313, 1,302, 1,290, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 down 0.63 pct at 2379.70.
South Korea July unemployment rate decrease to 3.6 % vs previous 3.8 %.
We prefer to take long position on EUR/KRW around 1,327, stop loss at 1,320 and target of 1,338/1,351.
