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FxWirePro: EUR/KRW trades flat at 1,355 mark, further less movement likely on account of South Korea’s bank holiday

  • EUR/KRW is currently trading around 1,352 mark.
     
  • It made intraday high at 1,355 and low at 1,350 levels.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1,346 mark.
     
  • A sustained close above 1,373 will take the parity higher towards key resistances around 1,392, 1,410 and 1,434 marks respectively.
     
  • On the other side, a daily close below 1,347 will drag the parity down towards key supports around 1,336, 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position on EUR/KRW only above 1,358, stop loss 1,346 and target of 1,373/1,392.

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