FxWirePro: EUR/KRW fails to find support below 1,294 mark, short term trend reversal likely
EUR/KRW is currently trading around 1,297 mark. It made intraday high at 1,297 and low at 1,295 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,294 mark. A sustained close above 1…
It made intraday high at 1,297 and low at 1,295 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,294 mark.
A sustained close above 1,302 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 1,294 will drag the parity down towards key supports around 1,287, 1,278, 1,268 and 1,244 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 0.64 point lower at 2,078.40.
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,294 and target of 1,319.
