FxWirePro: South Korean won falls gradually against euro, stay bullish
EUR/KRW is currently trading around 1,333 mark. Pair made intraday high at 1,334 and low at 1,328 levels. Intraday bias remains bullish till the time pair holds key support at 1,321 mark. A sustained close above 1,330 wi…
Pair made intraday high at 1,334 and low at 1,328 levels.
Intraday bias remains bullish till the time pair holds key support at 1,321 mark.
A sustained close above 1,330 will take the parity higher towards key resistances around 1,338, 1,351 and 1,377 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,313, 1,302, 1,290, 1,277, 1,265, 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.
South Korea June current account balance increase to 5.08 bln $ vs previous 4.52 bln $.
South Korea July FX reserves increase to 383.76 bln $ vs previous 380.57 bln $.
Seoul shares open down 0.18 pct.
We prefer to take long position on EUR/KRW around 1,330, stop loss at 1,321 and target of 1,351.
