Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/KRW remains well supported above 1,250 mark, bias remains bullish

  • EUR/KRW is currently trading around 1,258 mark.
     
  • Pair made intraday high at 1,260 and low at 1,256 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,250 mark.
     
  • A daily close below 1,256 will drag the parity down towards key supports around 1,247, 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
     
  • Alternatively, a sustained close above 1,256 will take the parity higher towards key resistances around 1,263, 1,274, 1,287 and 1,304 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 0.33 pct at 2319.37.

We prefer to take long position in EUR/KRW around 1,257, stop loss at 1,250 and target of 1,263/1,274/1,287.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.