FxWirePro: EUR/KRW hits fresh 3-week low at 1,298 mark, sustained close below targets 1,267 mark
EUR/KRW is currently trading around 1,298 mark. Pair made intraday high at 1,299 and low at 1,298 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,305 mark. A sustained close above 1,298…
Pair made intraday high at 1,299 and low at 1,298 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,305 mark.
A sustained close above 1,298 will take the parity higher towards key resistances around 1,305, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,298 will drag the parity down towards key supports around 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 down 0.21 pct.
We prefer to take short position on EUR/KRW around 1,300, stop loss at 1,305 and target of 1,286/1,267.
