FxWirePro: EUR/KRW consolidates around 1,295 mark, consistent close above requires for upside rally
EUR/KRW is currently trading around 1,295 mark. Pair made intraday high at 1,295 and low at 1,293 levels. Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark. A sustained c…
Pair made intraday high at 1,295 and low at 1,293 levels.
Intraday bias remains neutral till the time pair moves in stiff directions from 1,290 to 1,298 mark.
A sustained close above 1,295 will take the parity higher towards key resistances around 1,302, 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,289 will drag the parity down towards key supports around 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 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 up 0.07 pct.
We prefer to take long position on EUR/KRW only above 1,298, stop loss at 1,290 and target of 1,315.
