FxWirePro: EUR/KRW hits fresh 2-week high at 1,317 mark, consistent close above requires for upside rally
EUR/KRW is currently trading around 1,314 mark. Pair made intraday high at 1,317 and low at 1,314 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,315 mark. A sustained close above 1,315…
Pair made intraday high at 1,317 and low at 1,314 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,315 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, 1,297, 1,289, 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.
Korea, South Aug 2018 current account bal sa decrease to 8.44 usd vs previous 8.76 usd (revised from 8.76 usd).
Seoul shares open down 2.35 pct.
We prefer to take long position on EUR/KRW around 1,310, stop loss at 1,297 and target of 1,320/1,327.
