FxWirePro: EUR/KRW consolidates around 1,300 mark, further sideways movement likely
EUR/KRW is currently trading around 1,301 mark. Pair made intraday high at 1,302 and low at 1,300 levels. Intraday bias remains neutral till the time pair holds key support at 1,297 mark. A sustained close above 1,303 wi…
Pair made intraday high at 1,302 and low at 1,300 levels.
Intraday bias remains neutral till the time pair holds key support at 1,297 mark.
A sustained close above 1,303 will take the parity higher towards key resistances around 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,297 will drag the parity down towards key supports around 1,289, 1,277, 1,267, 1,258, 1,246 and 1,234 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 0.10 pct.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
