FxWirePro: EUR/KRW hits fresh 2-month low at 1,308 mark, sustained close below requires for downside rally
EUR/KRW is currently trading around 1,309 mark. Pair made intraday high at 1,311 and low at 1,308 levels. Intraday bias remains neutral till the time pair holds key support at 1,308 mark. A sustained close above 1,308 wi…
Pair made intraday high at 1,311 and low at 1,308 levels.
Intraday bias remains neutral till the time pair holds key support at 1,308 mark.
A sustained close above 1,308 will take the parity higher towards key resistances around 1,320, 1,332, 1,338, 1,356, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,308 will drag the parity down towards key supports around 1,290, 1,273 and 1,264 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Seoul shares open up 1.06 pct.
We prefer to take short position on EUR/KRW only below 1,308, stop loss at 1,320 and target of 1,273.
