FxWirePro: South Korean won falls gradually against U.S. dollar, stay long
EUR/KRW is currently trading around 1,325 mark. It made intraday high at 1,325 and low at 1,323 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark. A sustained close above 1…
It made intraday high at 1,325 and low at 1,323 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark.
A sustained close above 1,323 will take the parity higher towards key resistances around 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close above 1,323 will drag the parity down towards key supports around 1,310, 1,302, 1,290, 1,274, 1,265 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 1.02 point higher at 2,127.07.
We prefer to take long position on EUR/KRW around 1,322, stop loss at 1,317 and target of 1,347.
