FxWirePro: South Korean won falls gradually agains euro, stay bullish
EUR/KRW is currently trading around 1,310 mark. It made intraday high at 1,313 and low at 1,307 levels. Intraday bias remains bullish till the time pair holds key support at 1,302 mark. A sustained close above 1,307 will…
It made intraday high at 1,313 and low at 1,307 levels.
Intraday bias remains bullish till the time pair holds key support at 1,302 mark.
A sustained close above 1,307 will take the parity higher towards key resistances around 1,315, 1,327 and 1,340 marks respectively.
On the other side, a daily close below 1,307 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 down 1.09 pct.
We prefer to take long position on EUR/KRW around 1,310, stop loss 1,302 and target of 1,327.
