FxWirePro: South Korean won falls gradually against euro, stay bullish above 1,262
EUR/KRW is currently trading around 1,261 mark. Pair made intraday high at 1,262 and low at 1,258 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,262 marks. A sustained close above 1,26…
Pair made intraday high at 1,262 and low at 1,258 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,262 marks.
A sustained close above 1,260 will take the parity higher towards key resistances around 1,274, 1,287 and 1,304 marks respectively.
On the other side, a daily close below 1,247 will drag the parity down towards key supports around 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position in EUR/KRW only above 1,262, stop loss 1,247 and target of 1,287.
