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FxWirePro: EUR/KRW stabilizes above 1,300 mark, stay bullish

  • EUR/KRW is currently trading around 1,303 mark.
     
  • Pair made intraday high at 1,303 and low at 1,301 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,290 mark.
     
  • A sustained close above 1,302 will take the parity higher towards key resistances around 1,307, 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
     
  • On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,290, 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 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 0.13 pct at 2438.78.

We prefer to take long position in EUR/KRW around 1,302, stop loss at 1,290 and target of 1,321.

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