FxWirePro: EUR/KRW back above 1,280 mark, bias remains neutral
EUR/KRW is currently trading around 1,283 mark. It made intraday high at 1,285 and low at 1,283 levels. Intraday bias remains neutral till the time pair holds key support at 1,275 mark. A sustained close above 1,284 will…
It made intraday high at 1,285 and low at 1,283 levels.
Intraday bias remains neutral till the time pair holds key support at 1,275 mark.
A sustained close above 1,284 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,284 will drag the parity down towards key supports around 1,277, 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open down 0.73 pct.
We prefer to take long position on EUR/KRW around 1,280, stop loss at 1,272 and target of 1,294.
