FxWirePro: EUR/KRW hits fresh 7-week high at 1,275 mark, bias remains bullish
EUR/KRW is currently trading around 1,269 mark. Pair made intraday high at 1,275 and low at 1,262 levels. Intraday bias remains bullish till the time pair holds key support at 1,259 mark. A sustained close above 1,263 wi…
Pair made intraday high at 1,275 and low at 1,262 levels.
Intraday bias remains bullish till the time pair holds key support at 1,259 mark.
A sustained close above 1,263 will take the parity higher towards key resistances around 1,275, 1,280, 1,287 and 1,301 marks respectively.
On the other side, a consistent close below 1,263 will drag the parity down towards key supports around 1,253, 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s December CPI growth y/y stays flat at 1.3 % (forecast 1.30 %) vs previous 1.3 %.
South Korea’s December CPI growth increases to 0.1 % (forecast 0.20 %) vs previous -0.1 %.
We prefer to go long on EUR/KRW around 1,268 with stop loss at 1,259 and target of 1,275/1,287.
