FxWirePro: EUR/KRW hovers around immediate resistance at 1,337 mark, sustained close above requires for upside rally
EUR/KRW is currently trading around 1,336 mark. Pair made intraday high at 1,338 and low at 1,336 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,337 mark. A sustained close above 1,337…
Pair made intraday high at 1,338 and low at 1,336 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,337 mark.
A sustained close above 1,337 will take the parity higher towards key resistances around 1,343, 1,355, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,337 will drag the parity down towards key supports around 1,328, 1,323, 1,308, 1,302, 1,288, 1,272 and 1,264 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Seoul shares open up 0.72 pct.
Korea, South Jan unemployment rate decrease to 3.6 % vs previous 3.7 % (revised from 3.6 %).
We prefer to take long position on EUR/KRW only above 1,339, stop loss at 1,328 and target of 1,355.
