FxWirePro: EUR/KRW hits fresh 2 – week low at 1,291 mark, stay short
EUR/KRW is currently trading around 1,291 mark. It made intraday high at 1,295 and low at 1,291 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,298 mark. A sustained close above 1,298 w…
It made intraday high at 1,295 and low at 1,291 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,298 mark.
A sustained close above 1,298 will take the parity higher towards key resistances around 1,310, 1,324, 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,294 will drag the parity down towards key supports around 1,290, 1,282, 1,274, 1,265 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.96 pct higher at 2,222.54 points.
We prefer to take short position on EUR/KRW around 1,293, stop loss at 1,298 and target of 1,282/1,274.
