FxWirePro: EUR/KRW remains well supported above 1,300 mark, good to buy on dips
EUR/KRW is currently trading around 1,305 mark. It made intraday high at 1,305 and low at 1,302 levels. Intraday bias remains bullish till the time pair holds key support at 1,302 mark. A sustained close above 1,302 will…
It made intraday high at 1,305 and low at 1,302 levels.
Intraday bias remains bullish till the time pair holds key support at 1,302 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,315, 1,327 and 1,340 marks respectively.
On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278, 1,268, 1,257, 1,246 and 1,234 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 down 0.15 pct.
We prefer to take long position on EUR/KRW around 1,302, stop loss 1,294 and target of 1,315.
