FxWirePro: EUR/KRW remains well supported above 1,200 mark, stay bullish
EUR/KRW is currently trading around 1,206 mark. Pair made intraday high at 1,209 and low at 1,204 levels. Intraday bias remains bullish till the time pair holds key support at 1,203 mark. A daily close below 1,204 will d…
Pair made intraday high at 1,209 and low at 1,204 levels.
Intraday bias remains bullish till the time pair holds key support at 1,203 mark.
A daily close below 1,204 will drag the parity down towards key supports around 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.
Alternatively, a sustained close above 1,204 will take the parity higher towards key resistances around 1,209, 1,214, 1,228, 1,233, 1,242 and 1,252marks respectively.
Seoul shares open down 0.06 pct at 2171.36.
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.
Seoul shares open down 0.36 pct at 2161.17.
We prefer to take long position in EUR/KRW around 1,205, stop loss at 1,199 and target of 1,214/1,228.
