FxWirePro: South Korean won trades marginally higher against euro, stay bullish only above 1,320 mark
EUR/KRW is currently trading around 1,317 mark. Pair made intraday high at 1,319 and low at 1,317 levels. Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,320 mark. A sustained cl…
Pair made intraday high at 1,319 and low at 1,317 levels.
Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,320 mark.
A sustained close above 1,319 will take the parity higher towards key resistances around 1,327, 1,338 and 1,358 marks respectively.
On the other side, a daily close below 1,319 will drag the parity down towards key supports around 1,309, 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 0.04 pct.
We prefer to take long position on EUR/KRW only above 1,320, stop loss at 1,309 and target of 1,338.
