FxWirePro: South Korean won falls gradually against euro, stay bullish
EUR/KRW is currently trading around 1,355 mark. Pair made intraday high at 1,355 and low at 1,352 levels. Intraday bias remains bullish till the time pair holds key support at 1,340 mark. A sustained close above 1,353 wi…
Pair made intraday high at 1,355 and low at 1,352 levels.
Intraday bias remains bullish till the time pair holds key support at 1,340 mark.
A sustained close above 1,353 will take the parity higher towards key resistances around 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,353 will drag the parity down towards key supports around 1,340, 1,326, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 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 0.17 pct.
We prefer to take long position on EUR/KRW around 1,350, stop loss at 1,340 and target of 1,390.
