FxWirePro: EUR/KRW trades flat at 1,355 mark, further less movement likely on account of South Korea’s bank holiday
EUR/KRW is currently trading around 1,352 mark. It made intraday high at 1,355 and low at 1,350 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,346 mark. A sustained close above 1…
It made intraday high at 1,355 and low at 1,350 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,346 mark.
A sustained close above 1,373 will take the parity higher towards key resistances around 1,392, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,347 will drag the parity down towards key supports around 1,336, 1,311, 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.
We prefer to take long position on EUR/KRW only above 1,358, stop loss 1,346 and target of 1,373/1,392.
