FxWirePro: EUR/KRW consolidates around 1,319 mark, sustained close above requires for upside rally
EUR/KRW is currently trading around 1,317 mark. It made intraday high at 1,319 and low at 1,317 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,319 mark. A sustained close above 1,319 w…
It made intraday high at 1,319 and low at 1,317 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,319 mark.
A sustained close above 1,319 will take the parity higher towards key resistances around 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,317 will drag the parity down towards key supports around 1,311, 1,302, 1,290, 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.90 point higher at 2,078.44.
We prefer to take short position on EUR/KRW only below 1,311, stop loss at 1,322 and target of 1,302/1,290.
