FxWirePro: EUR/KRW trades in narrow range, stay bullish above 1,265 mark
EUR/KRW is currently trading around 1,262 mark. Pair made intraday high at 1,265 and low at 1,262 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,265 marks. A sustained close above 1,26…
Pair made intraday high at 1,265 and low at 1,262 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,265 marks.
A sustained close above 1,265 will take the parity higher towards key resistances around 1,269, 1,274, 1,287 and 1,304 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Seoul shares open up 0.04 pct at 2358.92.
We prefer to take long position in EUR/KRW only above 1,265, stop loss 1,253 and target of 1,287.
