FxWirePro: EUR/KRW touches 1,320 mark in early hours of Asia, sustained close above targets 1,347 mark
EUR/KRW is currently trading around 1,319 mark. It made intraday high at 1,320 and low at 1,317 levels. Intraday bias remains bullish till the time pair holds key support at 1,311 mark. A sustained close above 1,317 will…
It made intraday high at 1,320 and low at 1,317 levels.
Intraday bias remains bullish till the time pair holds key support at 1,311 mark.
A sustained close above 1,317 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,317 will drag the parity down towards key supports around 1,311, 1,302, 1,290, 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.77 point lower at 2,068.08.
South Korea’s FX reserves – USD Nov stands at 407.46B vs 406.32B previous release (expected 408.15B).
We prefer to take long position on EUR/KRW around 1,318, stop loss at 1,310 and target of 1,327/1,347.
