• FxWirePro: South Korean WON trades marginally higher against Euro, stay bullish only above 1,320 Mark

    Source: FxWire Pro - Technicals / 16 Jul 2018 22:16:00   America/New_York

    • EUR/KRW is currently trading around 1,317 mark.
       
    • Pair made intraday high at 1,319 and low at 1,317 levels.
       
    • Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,320 mark.
       
    • A sustained close above 1,319 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 1,319 will drag the parity down towards key supports around 1,309, 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 0.04 pct.

    We prefer to take long position on EUR/KRW only above 1,320, stop loss at 1,309 and target of 1,338.

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