FxWirePro: EUR/KRW stabilizes above 1,320 mark, bias turns bullish again
EUR/KRW is currently trading around 1,324 mark. It made intraday high at 1,328 and low at 1,322 levels. Intraday bias remains bearish till the time pair holds key support at 1,322 mark. A sustained close above 1,322 will…
It made intraday high at 1,328 and low at 1,322 levels.
Intraday bias remains bearish till the time pair holds key support at 1,322 mark.
A sustained close above 1,322 will take the parity higher towards key resistances around 1,337, 1,358, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,322 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.04 pct lower at 1,822.85 points.
We prefer to take long position on EUR/KRW around 1,324, stop loss at 1,320 and target of 1,337/1,358.
