FxWirePro: EUR/KRW trades in narrow range, stay bullish only above 1,340 mark
EUR/KRW is currently trading around 1,337 mark. It made intraday high at 1,337 and low at 1,335 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,340 mark. A sustained close above 1,338 w…
It made intraday high at 1,337 and low at 1,335 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,340 mark.
A sustained close above 1,338 will take the parity higher towards key resistances around 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,333 will drag the parity down towards key supports around 1,328, 1,317, 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.
Seoul shares open down 0.20 pct.
We prefer to take long position on EUR/KRW only above 1,340, stop loss 1,328 and target of 1,358/1,377.
