FxWirePro: EUR/KRW hits fresh 2-week high at 1,248, sustained close above targets 1,260
EUR/KRW is currently trading around 1,246 mark. Pair made intraday high at 1,248 and low at 1,242 levels. Intraday bias remains bullish till the time pair holds key support at 1,240 mark. A sustained close above 1,242 wi…
Pair made intraday high at 1,248 and low at 1,242 levels.
Intraday bias remains bullish till the time pair holds key support at 1,240 mark.
A sustained close above 1,242 will take the parity higher towards key resistances around 1,255, 1,260, 1,269 and 1,272 marks respectively.
On the other side, a consistent close below 1,240 will drag the parity down towards key supports around 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Seouls Kospi shares open up 0.18 pct at 2041.61.
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.
We prefer to go long on EUR/KRW around 1,245 with stop loss at 1,236 and target of 1,255/1,260/1,272.
