FxWirePro: EUR/KRW hits fresh 2-month high at 1,304 mark, stay bullish
EUR/KRW is currently trading around 1,303 mark. Pair made intraday high at 1,304 and low at 1,301 levels. Intraday bias remains bullish till the time pair holds key support at 1,288 mark. A sustained close above 1,301 wi…
Pair made intraday high at 1,304 and low at 1,301 levels.
Intraday bias remains bullish till the time pair holds key support at 1,288 mark.
A sustained close above 1,301 will take the parity higher towards key resistances around 1,302, 1,313, 1,327, 1,338, 1,347 and 1,355 marks respectively.
On the other side, a daily close below 1,301 will drag the parity down towards key supports around 1,288, 1,272, 1,264, 1,248 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 0.02 pct.
We prefer to take long position on EUR/KRW around 1,298, stop loss at 1,288 and target of 1,313.
