FxWirePro: EUR/KRW exhibits range bound movement, stay bearish only below 1,307 mark
EUR/KRW is currently trading around 1,309 mark. It made intraday high at 1,311 and low at 1,307 levels. Intraday bias remains neutral till the time pair holds key support at 1,307 mark. A sustained close above 1,307 will…
It made intraday high at 1,311 and low at 1,307 levels.
Intraday bias remains neutral till the time pair holds key support at 1,307 mark.
A sustained close above 1,307 will take the parity higher towards key resistances around 1,319, 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 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 0.72 point higher at 2,043.50.
We prefer to take short position on EUR/KRW only below 1,307, stop loss at 1,315 and target of 1,302/1,287.
