FxWirePro: South Korean won trades almost flat against euro in early Asia, stay bullish only above 1,310 mark
EUR/KRW is currently trading around 1,306 mark. Pair made intraday high at 1,308 and low at 1,306 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,310 mark. A sustained close above 1,308…
Pair made intraday high at 1,308 and low at 1,306 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,310 mark.
A sustained close above 1,308 will take the parity higher towards key resistances around 1,315, 1,327 and 1,338 marks respectively.
On the other side, a daily close below 1,308 will drag the parity down towards key supports around 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 0.18 pct.
We prefer to take long position on EUR/KRW only above 1,310, stop loss at 1,294 and target of 1,315/1,327.
