FxWirePro: EUR/KRW hits fresh 7-month high at 1,292 mark, stay bullish

• EUR/KRW is currently trading around 1,291 mark.
   
• Pair made intraday high at 1,292 and low at 1,290 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1,277 marks.
   
• A sustained close above 1,291 will take the parity higher towards key resistances around 1,304, 1,338, 1,351 and 1,377 marks respectively.
   
• On the other side, a daily close below 1,291 will drag the parity down towards key supports around 1,277, 1,262, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 0.38 pct at 2382.91.
   
• First meeting this week between U.S. President Donald Trump and new South Korean President Moon Jae-in in focus.
   
• Moon Jae-in will speak at the chamber on Wednesday evening.
   
• In addition, euro extends gains against KRW after Draghi’s comments.
   
• Draghi said ECB may change policy to keep stance unchanged.

We prefer to take long position in EUR/KRW around 1,288, stop loss at 1,277 and target of 1,304/1,318.

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