FxWirePro: EUR/KRW hits fresh 3 – week high at 1,302 mark, stay long
EUR/KRW is currently trading around 1,301 mark. It made intraday high at 1,302 and low at 1,294 levels. Intraday bias remains bullish till the time pair holds key support at 1,294 mark. A sustained close above 1,295 will…
It made intraday high at 1,302 and low at 1,294 levels.
Intraday bias remains bullish till the time pair holds key support at 1,294 mark.
A sustained close above 1,295 will take the parity higher towards key resistances around 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,295 will drag the parity down towards key supports around 1,288, 1,274, 1,265, 1,244, 1,212 and 1,200 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.
South Korea’s Kospi was trading 1.01 point lower at 2,103.27.
We prefer to take long position on EUR/KRW around 1,298, stop loss at 1,290 and target of 1,319/1,327.
