FxWirePro: EUR/KRW hits fresh 2-month high at 1,292 mark, bias turns bullish again
EUR/KRW is currently trading around 1,292 mark. It made intraday high at 1,292 and low at 1,288 levels. Intraday bias remains bullish till the time pair holds key support at 1,282 mark. A sustained close above 1,289 will…
It made intraday high at 1,292 and low at 1,288 levels.
Intraday bias remains bullish till the time pair holds key support at 1,282 mark.
A sustained close above 1,289 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,289 will drag the parity down towards key supports around 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
Seoul shares open up 0.05 pct.
We prefer to take long position on EUR/KRW around 1,290, stop loss at 1,282 and target of 1,307.
