FxWirePro: EUR/KRW remains well supported above 1,270 mark, bias remains slightly bullish

• EUR/KRW is currently trading around 1,274 mark.
   
• Pair made intraday high at 1,274 and low at 1,269 levels.
   
• Intraday bias remains slightly bullish till the time pair holds immediate support at 1,267 mark.
   
• A sustained close above 1,280 will take the parity higher towards key resistances around 1,294, 1,302, 1,315, 1,327, 1,332 and 1,340 marks respectively.
   
• On the other side, a daily close below 1,267 will drag the parity down towards key supports around 1,258, 1,242 and 1,222 marks respectively.
   
• 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 up 0.36 pct.

We prefer to take long position on EUR/KRW only above 1,280, stop loss at 1,267 and target of 1,302.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest