FxWirePro: EUR/KRW consolidates around 1,315 mark, bias remains neutral
EUR/KRW is currently trading around 1,315 mark. Pair made intraday high at 1,316 and low at 1,315 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,309 to 1320 marks. A sustained c…
Pair made intraday high at 1,316 and low at 1,315 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,309 to 1320 marks.
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 1,309 will drag the parity down towards key supports around 1,305, 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 0.38 pct.
We prefer to take long position on EUR/KRW only above 1,320, stop loss at 1,305 and target of 1,338.
