FxWirePro: South Korean won trades flat against euro at 1,330 mark, stay neutral
EUR/KRW is currently trading around 1,329 mark. It made intraday high at 1,330 and low at 1,329 levels. Intraday bias remains neutral for the moment. A sustained close above 1,332 will take the parity higher towards key …
It made intraday high at 1,330 and low at 1,329 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,332 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,327 will drag the parity down towards key supports around 1,317, 1,302, 1,294, 1,287, 1,278 and 1,268 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 down 0.60 pct.
We prefer to take long position on EUR/KRW around 1,327, stop loss 1,320 and target of 1,377.
