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FxWirePro: South Korean won falls gradually against U.S. dollar, stay long

  • EUR/KRW is currently trading around 1,325 mark.
     
  • It made intraday high at 1,325 and low at 1,323 levels.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1,310 mark.
     
  • A sustained close above 1,323 will take the parity higher towards key resistances around 1,327, 1,347 and 1,363 marks respectively.
     
  • On the other side, a daily close above 1,323 will drag the parity down towards key supports around 1,310, 1,302, 1,290, 1,274, 1,265 and 1,244 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 1.02 point higher at 2,127.07.

We prefer to take long position on EUR/KRW around 1,322, stop loss at 1,317 and target of 1,347.

  • Market Data
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