FxWirePro: EUR/KRW trades in narrow range, sustained close above 1,318 requires for upside rally
EUR/KRW is currently trading around 1,317 mark. It made intraday high at 1,383 and low at 1,317 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,320 mark. A sustained close above 1,318 w…
It made intraday high at 1,383 and low at 1,317 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,320 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,322, 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,318 will drag the parity down towards key supports around 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 up 0.22 pct.
We prefer to take long position on EUR/KRW only above 1,322, stop loss 1,308 and target of 1,340.
