FxWirePro: EUR/KRW remains well supported above 1,300 mark, stay bullish only above 1,305
EUR/KRW is currently trading around 1,301 mark. Pair made intraday high at 1,304 and low at 1,301 levels. Intraday bias remains bullish till the time pair holds key support at 1,290 mark. A sustained close above 1,304 wi…
Pair made intraday high at 1,304 and low at 1,301 levels.
Intraday bias remains bullish till the time pair holds key support at 1,290 mark.
A sustained close above 1,304 will take the parity higher towards key resistances around 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,290, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 0.06 pct at 2451.41.
We prefer to take long position in EUR/KRW only above 1,304, stop loss at 1,290 and target of 1,321/1,338.
