EUR/KRW is currently trading around 1,291 mark. Pair made intraday high at 1,295 and low at 1,291 levels. Intraday bias remains bearish for the moment. A sustained close above 1,294 will take the parity higher towards ke…
Pair made intraday high at 1,295 and low at 1,291 levels.
Intraday bias remains bearish for the moment.
A sustained close above 1,294 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 1,294 will drag the parity down towards key supports around 1,291, 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. Current downside movement is short term trend correction only.
We prefer to take short position on EUR/KRW around 1,295, stop loss at 1,307 and target of 1,277.
