FxWirePro: EUR/KRW stabilizes above 1,330 mark, consistent close above 1,336 requires for upside rally
EUR/KRW is currently trading around 1,332 mark. It made intraday high at 1,334 and low at 1,331 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,336 mark. A sustained close above 1,336 w…
It made intraday high at 1,334 and low at 1,331 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,336 mark.
A sustained close above 1,336 will take the parity higher towards key resistances around 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,328 will drag the parity down towards key supports around 1,320, 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 1.46 pct higher at 1,916.72 points.
We prefer to take long position on EUR/KRW around 1,332, stop loss at 1,325 and target of 1,357.
