EUR/KRW is currently trading around 1,255 mark. Pair made intraday high at 1,256 and low at 1,252 levels. Intraday bias remains bullish till the time pair holds key support at 1,242 mark. A sustained close above 1,255 wi…
Pair made intraday high at 1,256 and low at 1,252 levels.
Intraday bias remains bullish till the time pair holds key support at 1,242 mark.
A sustained close above 1,255 will take the parity higher towards key resistances around 1,262, 1,269 and 1,272 marks respectively.
On the other side, a consistent close below 1,255 will drag the parity down towards key supports around 1,242, 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Seoul shares open up 0.02 pct at 2036.17.
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.
We prefer to go long on EUR/KRW only above 1,257 with stop loss at 1,242 and target of 1,272/1,286.
