FxWirePro: EUR/KRW hovers around 1,300 mark, sustained close above requires for upside rally
EUR/KRW is currently trading around 1,302 mark. It made intraday high at 1,303 and low at 1,301 levels. Intraday bias remains neutral for the moment. A sustained close above 1,302 will take the parity higher towards key …
It made intraday high at 1,303 and low at 1,301 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,312, 1,324, 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,290, 1,282, 1,274, 1,265 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.70 pct lower at 2,212.54 points.
We prefer to take long position on EUR/KRW only above 1,305, stop loss at 1,295 and target of 1,312/1,324.
