FxWirePro: EUR/KRW remains well supported above 1,340 mark, good to buy on dips
EUR/KRW is currently trading around 1,342 mark. It made intraday high at 1,343 and low at 1,340 levels. Intraday bias remains bullish till the time pair holds key support at 1,336 mark. A sustained close above 1,342 will…
It made intraday high at 1,343 and low at 1,340 levels.
Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
A sustained close above 1,342 will take the parity higher towards key resistances around 1,357, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,338 will drag the parity down towards key supports around 1,328, 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.03 pct lower at 1,938.44 point.
We prefer to take long position on EUR/KRW around 1,340, stop loss 1,335 and target of 1,357/1,373.
