FxWirePro: EUR/KRW rejects key support at 1,255, bias turns bullish again
EUR/KRW is currently trading around 1,266 mark. Pair made intraday high at 1,267 and low at 1,256 levels. Intraday bias remains bullish till the time pair holds key support at 1,255 mark. A sustained close above 1,262 wi…
Pair made intraday high at 1,267 and low at 1,256 levels.
Intraday bias remains bullish till the time pair holds key support at 1,255 mark.
A sustained close above 1,262 will take the parity higher towards key resistances around 1,268, 1,275, 1,280, 1,287 and 1,301 marks respectively.
On the other side, a consistent close below 1,262 will drag the parity down towards key supports around 1,255, 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul Kospi shares open up 0.40 pct at 2034.31.
We prefer to go long on EUR/KRW around 1,262 with stop loss at 1,255 and target of 1,275/1,287.
