EUR/KRW is currently trading around 1,275 mark. It made intraday high at 1,281 and low at 1,275 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,283 mark. A sustained close above 1,281 w…
It made intraday high at 1,281 and low at 1,275 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,283 mark.
A sustained close above 1,281 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,281 will drag the parity down towards key supports around 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open up 0.20 pct.
We prefer to take short position on EUR/KRW around 1,278, stop loss at 1,285 and target of 1,257/1,246.
