FxWirePro: EUR/KRW hits fresh 2-month low at 1,293 mark, good to sell on rallies
EUR/KRW is currently trading around 1,297 mark. Pair made intraday high at 1,298 and low at 1,293 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,302 mark. A sustained close ab…
Pair made intraday high at 1,298 and low at 1,293 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,302 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,293 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.24 pct.
We prefer to take short position on EUR/KRW around 1,298, stop loss at 1,308 and target of 1,277.
