• FxWirePro: EUR/KRW touches 1,320 Mark in early hours of Asia, sustained close above targets 1,347 Mark

    Source: FxWire Pro - Technicals / 03 Dec 2019 20:26:48   America/New_York

    • EUR/KRW is currently trading around 1,319 mark.
       
    • It made intraday high at 1,320 and low at 1,317 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 1,311 mark.
       
    • A sustained close above 1,317 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
       
    • On the other side, a daily close below 1,317 will drag the parity down towards key supports around 1,311, 1,302, 1,290, 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • South Korea’s Kospi was trading 0.77 point lower at 2,068.08.
       
    • South Korea’s FX reserves – USD Nov stands at 407.46B vs 406.32B previous release (expected 408.15B).

    We prefer to take long position on EUR/KRW around 1,318, stop loss at 1,310 and target of 1,327/1,347.

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