FxWirePro: EUR/KRW consolidates around 1,292 mark, bias remains neutral
EUR/KRW is currently trading around 1,293 mark. Pair made intraday high at 1,294 and low at 1,292 levels. Intraday bias remains neutral till the time pair holds key support at 1,290 mark. A sustained close above 1,301 wi…
Pair made intraday high at 1,294 and low at 1,292 levels.
Intraday bias remains neutral till the time pair holds key support at 1,290 mark.
A sustained close above 1,301 will take the parity higher towards key resistances around 1,307, 1,316, 1,321, 1,338, 1,351 and 1,377 marks respectively.
On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,277, 1,265, 1,247, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194 and 1,189 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Seoul shares open up 0.25 pct at 2436.06.
We prefer to take long position in EUR/KRW only above 1,297, stop loss at 1,288 and target of 1,316.
