FxWirePro: EUR/KRW moves in rigid boundaries, consistent close above 1,333 requires for upside rally
EUR/KRW is currently trading around 1,326 mark. It made intraday high at 1,329 and low at 1,326 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,333 mark. A sustained close above 1,333 w…
It made intraday high at 1,329 and low at 1,326 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,333 mark.
A sustained close above 1,333 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,317, 1,302, 1,294, 1,287, 1,278 and 1,268 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 0.08 pct.
We prefer to take long position on EUR/KRW only above 1,333, stop loss 1,321 and target of 1,358/1,377.
