FxWirePro: EUR/KRW hits fresh 3-week low at 1,289 mark, consistent close below targets 1,267 mark
EUR/KRW is currently trading around 1,293 mark. Pair made intraday high at 1,294 and low at 1,290 levels. Intraday bias remains neutral till the time pair holds key support at 1,289 mark. A sustained close above 1,302 wi…
Pair made intraday high at 1,294 and low at 1,290 levels.
Intraday bias remains neutral till the time pair holds key support at 1,289 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 1,246 and 1,234 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 0.16 pct.
We prefer to take short position on EUR/KRW around 1,295, stop loss at 1,305 and target of 1,267.
