FxWirePro: EUR/KRW exhibits range bound movement, bias remains neutral
EUR/KRW is currently trading around 1,205 mark. Pair made intraday high at 1,205 and low at 1,202 levels. Intraday bias remains neutral till the time pair holds key support at 1,201 mark. A daily close below 1,201 will d…
Pair made intraday high at 1,205 and low at 1,202 levels.
Intraday bias remains neutral till the time pair holds key support at 1,201 mark.
A daily close below 1,201 will drag the parity down towards key supports around 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.
Alternatively, a sustained close above 1,201 will take the parity higher towards key resistances around 1,207, 1,211, 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively.
Seoul shares open up 0.45 pct at 2155.36.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
U.S. vice president Pence – South Korea – U.S. free trade agreement will be reviewed and reformed in days ahead.
U.S. vice president Pence - Still too many barriers for U.S. businesses under South Korea – U.S. free trade agreement.
We prefer to take long position in EUR/KRW around 1,204, stop loss at 1,200 and target of 1,211/1,218.
