FxWirePro: EUR/KRW hits fresh 2 – month high at 1,314 mark, South Korea’s quarterly GDP stands at 0.4 pct
EUR/KRW is currently trading around 1,313 mark. It made intraday high at 1,314 and low at 1,312 levels. Intraday bias remains bullish till the time pair holds key support at 1,302 mark. A sustained close above 1,311 will…
It made intraday high at 1,314 and low at 1,312 levels.
Intraday bias remains bullish till the time pair holds key support at 1,302 mark.
A sustained close above 1,311 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,311 will drag the parity down towards key supports around 1,302, 1,290, 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.74 point lower at 2,076.25.
South Korea’s GDP q/q stands at 0.4 vs 1.0 previous release (expected 0.4).
We prefer to take long position on EUR/KRW around 1,311, stop loss at 1,302 and target of 1,319/1,327.
