FxWirePro: EUR/KRW trades in narrow range, consistent close above 1,320 requires for upside rally
EUR/KRW is currently trading around 1,320 mark. Pair made intraday high at 1,321 and low at 1,320 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,316 mark. A sustained close above…
Pair made intraday high at 1,321 and low at 1,320 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,316 mark.
A sustained close above 1,320 will take the parity higher towards key resistances around 1,330, 1,343, 1,355, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,315, 1,308, 1,298, 1,288, 1,272 and 1,264 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 down 0.37 pct.
We prefer to take lonh position on EUR/KRW only above 1,322, stop loss at 1,316 and target of 1,343.
