FxWirePro: EUR/KRW hovers around 1,300 mark, sustained close above requires for upside rally
EUR/KRW is currently trading around 1,301 mark. Pair made intraday high at 1,301 and low at 1,299 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,296 mark. A sustained close above…
Pair made intraday high at 1,301 and low at 1,299 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,296 mark.
A sustained close above 1,300 will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,296 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246 and 1,234 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 0.19 pct.
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,294 and target of 1,315.
