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FxWirePro: EUR/KRW remains well supported above 1,340 mark, good to buy on dips

  • EUR/KRW is currently trading around 1,342 mark.
     
  • It made intraday high at 1,343 and low at 1,340 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,336 mark.
     
  • A sustained close above 1,342 will take the parity higher towards key resistances around 1,357, 1,373, 1,410 and 1,434 marks respectively.
     
  • On the other side, a daily close below 1,338 will drag the parity down towards key supports around 1,328, 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.
     
  • South Korea’s Kospi was trading 0.03 pct lower at 1,938.44 point.

We prefer to take long position on EUR/KRW around 1,340, stop loss 1,335 and target of 1,357/1,373.

By Aarti Panchal
  • Market Data
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