FxWirePro: EUR/KRW hits fresh 2 – month low at 1,312 mark, stay short
EUR/KRW is currently trading around 1,312 mark. It made intraday high at 1,316 and low at 1,312 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,322 mark. A sustained close above 1,322 w…
It made intraday high at 1,316 and low at 1,312 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,322 mark.
A sustained close above 1,322 will take the parity higher towards key resistances around 1,336, 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,315 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
We prefer to take short position on EUR/KRW around 1,315, stop loss at 1,325 and target of 1,298/1,274.
