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FxWirePro: EUR/KRW hovers around key resistance at 1,327 mark, consistent close above requires for upside rally

  • EUR/KRW is currently trading around 1,324 mark.
     
  • Pair made intraday high at 1,325 and low at 1,322 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 1,327 mark.
     
  • A sustained close above 1,322 will take the parity higher towards key resistances around 1,327, 1,332, 1,338, 1,356, 1,377 and 1,392 marks respectively.
     
  • On the other side, a daily close below 1,322 will drag the parity down towards key supports around 1,308, 1,298, 1,288, 1,272 and 1,264 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 0.78 pct.

We prefer to take long position on EUR/KRW only above 1,327, stop loss at 1,315 and target of 1,356.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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