FxWirePro: EUR/KRW hits fresh 2-month high at 1,316 mark, downside limited
EUR/KRW is currently trading around 1,307 mark. Pair made intraday high at 1,316 and low at 1,307 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,298 mark. A sustained close above…
Pair made intraday high at 1,316 and low at 1,307 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,298 mark.
A sustained close above 1,315 will take the parity higher towards key resistances around 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,315 will drag the parity down towards key supports around 1,307, 1,298, 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Seoul shares open down 0.08 pct.
We prefer to take long position on EUR/KRW around 1,305, stop loss at 1,297 and target of 1,315/1,327.
