EUR/KRW is currently trading around 1,285 mark. Pair made intraday high at 1,285 and low at 1,282 levels. Intraday bias remains bullish till the time pair holds key support at 1,277 mark. A sustained close above 1,282 wi…
Pair made intraday high at 1,285 and low at 1,282 levels.
Intraday bias remains bullish till the time pair holds key support at 1,277 mark.
A sustained close above 1,282 will take the parity higher towards key resistances around 1,294, 1,302, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,282 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 1,246, 1,234, 1,222, 1,205 and 1,188 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 down 0.13 pct.
We prefer to take long position on EUR/KRW around 1,284, stop loss at 1,275 and target of 1,294/1,302.
