• FxWirePro: EUR/KRW stabilizes above 1,320 Mark, sustained close above requires for upside rally

    Source: FxWire Pro - Technicals / 22 Jul 2018 21:51:31   America/New_York

    • EUR/KRW is currently trading around 1,323 mark.
       
    • Pair made intraday high at 1,323 and low at 1,320 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 1,315 mark.
       
    • A sustained close above 1,320 will take the parity higher towards key resistances around 1,327, 1,338 and 1,358 marks respectively.
       
    • On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,311, 1,305, 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 up 0.02 pct.
       
    • Korea, South June 2018 export growth revised increase to -0.2.
       
    • Korea, South June 2018 import growth revised increase to 10.8.
       
    • Korea, South June 2018 trade balance revised increase to 6.24 bln.

    We prefer to take long position on EUR/KRW around 1,320, stop loss at 1,315 and target of 1,338.

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