FxWirePro: EUR/KRW hits fresh 3-month high at 1,309 mark, stay bullish
EUR/KRW is currently trading around 1,306 mark. Pair made intraday high at 1,309 and low at 1,306 levels. Intraday bias remains bullish till the time pair holds key support at 1,299 mark. A sustained close above 1,305 wi…
Pair made intraday high at 1,309 and low at 1,306 levels.
Intraday bias remains bullish till the time pair holds key support at 1,299 mark.
A sustained close above 1,305 will take the parity higher towards key resistances around 1,315, 1,327 and 1,338 marks respectively.
On the other side, a daily close below 1,305 will drag the parity down towards key supports around 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.17 pct.
We prefer to take long position on EUR/KRW around 1,305, stop loss at 1,299 and target of 1,315/1,327.
