FxWirePro: EUR/KRW stabilizes above 1,320 mark, sustained close above 1,321 targets 1,340 mark
EUR/KRW is currently trading around 1,322 mark. It made intraday high at 1,322 and low at 1,321 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark. A sustained close above 1…
It made intraday high at 1,322 and low at 1,321 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,308 mark.
A sustained close above 1,321 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,308, 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 0.31 pct higher at 2,070.55 points.
We prefer to take long position on EUR/KRW around 1,320, stop loss 1,315 and target of 1,340/1,358.
