FxWirePro: South Korean won trades marginally lower againt euro in early Asia, stay bullish
EUR/KRW is currently trading around 1,308 mark. Pair made intraday high at 1,308 and low at 1,305 levels. Intraday bias remains bullish till the time pair holds key support at 1,300 mark. A sustained close above 1,305 wi…
Pair made intraday high at 1,308 and low at 1,305 levels.
Intraday bias remains bullish till the time pair holds key support at 1,300 mark.
A sustained close above 1,305 will take the parity higher towards key resistances around 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,305 will drag the parity down towards key supports around 1,297, 1,289, 1,277, 1,267, 1,258, 1,246 and 1,234 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 0.30 pct.
We prefer to take long position on EUR/KRW around 1,306, stop loss at 1,297 and target of 1,315/1,327.
