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FxWirePro: EUR/KRW hits fresh 3-month high at 1,315 mark, bias remains bullish

  • EUR/KRW is currently trading around 1,314 mark.
     
  • Pair made intraday high at 1,315 and low at 1,305 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,302 mark.
     
  • A sustained close above 1,305 will take the parity higher towards key resistances around 1,315, 1,327, 1,338 and 1,358 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 down 0.74 pct.
     
  • Korea, South June unemployment rate decrease to 3.7 % vs previous 4 %.

We prefer to take long position on EUR/KRW around 1,310, stop loss at 1,299 and target of 1,327.

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