FxWirePro: EUR/KRW jumps above 1,240 mark in early hours of Asia, bias remains bullish
EUR/KRW is currently trading around 1,240 mark. Pair made intraday high at 1,241 and low at 1,236 levels. Intraday bias remains bullish till the time pair holds key support at 1,233 mark. A sustained close above 1,236 wi…
Pair made intraday high at 1,241 and low at 1,236 levels.
Intraday bias remains bullish till the time pair holds key support at 1,233 mark.
A sustained close above 1,236 will take the parity higher towards key resistances around 1,245, 1,255, 1,260, 1,269 and 1,272 marks respectively.
On the other side, a consistent close below 1,236 will drag the parity down towards key supports around 1,230, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Seoul shares open up 0.37 pct at 2049.47.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on EUR/KRW only above 1,241 with stop loss at 1,233 and target of 1,255/1,260/1,272.
