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FxWirePro: EUR/KRW remains well supported above 1,320 mark, good to buy on dips

  • EUR/KRW is currently trading around 1,325 mark.
     
  • Pair made intraday high at 1,325 and low at 1,321 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,320 mark.
     
  • A sustained close above 1,321 will take the parity higher towards key resistances around 1,332, 1,343, 1,355, 1,377 and 1,392 marks respectively.
     
  • On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,308, 1,302, 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 down 0.39 pct.

We prefer to take long position on EUR/KRW only above 1,327, stop loss at 1,320 and target of 1,355.

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