FxWirePro: EUR/KRW enjoys roller coaster movement, sustained close below 1,329 targets 1,274 mark
EUR/KRW is currently trading around 1,332 mark. It made intraday high at 1,333 and low at 1,330 levels. Intraday bias remains neutral till the time pair holds key support at 1,329 mark. A sustained close above 1,340 will…
It made intraday high at 1,333 and low at 1,330 levels.
Intraday bias remains neutral till the time pair holds key support at 1,329 mark.
A sustained close above 1,340 will take the parity lower towards key resistances around 1,358, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,329 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.51 pct higher at 1,733.78 points.
South Korea’s Fx – reserves USD stands at 400.21B vs 409.17B previous release.
We prefer to take short position on EUR/KRW only below 1,329, stop loss at 1,340 and target of 1,298/1,274.
