FxWirePro: South Korean won falls gradually against euro, upside limited
EUR/KRW is currently trading around 1,286 mark. It made intraday high at 1,287 and low at 1,284 levels. Intraday bias remains bullish till the time pair holds key support at 1,284 mark. A sustained close above 1,284 will…
It made intraday high at 1,287 and low at 1,284 levels.
Intraday bias remains bullish till the time pair holds key support at 1,284 mark.
A sustained close above 1,284 will take the parity higher towards key resistances around 1,290, 1,302, 1,324, 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,284 will drag the parity down towards key supports around 1,274, 1,265, 1,244 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
South Korea’s kospi was trading 0.60 pct lower at 2,195.57 points.
We prefer to take long position on EUR/KRW only above 1,290, stop loss at 1,279 and target of 1,302/1,324.
