FxWirePro: EUR/KRW stabilizes above 1,320 mark, sustained close above requires for upside rally
EUR/KRW is currently trading around 1,323 mark. Pair made intraday high at 1,323 and low at 1,320 levels. Intraday bias remains bullish till the time pair holds key support at 1,315 mark. A sustained close above 1,320 wi…
Pair made intraday high at 1,323 and low at 1,320 levels.
Intraday bias remains bullish till the time pair holds key support at 1,315 mark.
A sustained close above 1,320 will take the parity higher towards key resistances around 1,327, 1,338 and 1,358 marks respectively.
On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,311, 1,305, 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.02 pct.
Korea, South June 2018 export growth revised increase to -0.2.
Korea, South June 2018 import growth revised increase to 10.8.
Korea, South June 2018 trade balance revised increase to 6.24 bln.
We prefer to take long position on EUR/KRW around 1,320, stop loss at 1,315 and target of 1,338.
