FxWirePro: EUR/KRW exhibits range bound movement, stay neutral
EUR/KRW is currently trading around 1,276 mark. It made intraday high at 1,276 and low at 1,268 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,268 mark. A sustained close above 1…
It made intraday high at 1,276 and low at 1,268 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,268 mark.
A sustained close above 1,268 will take the parity higher towards key resistances around 1,284, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,268 will drag the parity down towards key supports around 1,257, 1,246, 1,234, 1,218 and 1,206 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open up 0.09 pct.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
