EUR/KRW is currently trading around 1,305 mark. It made intraday high at 1,310 and low at 1,305 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,322 mark. A sustained close above 1,322 w…
It made intraday high at 1,310 and low at 1,305 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,322 mark.
A sustained close above 1,322 will take the parity higher towards key resistances around 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,309 will drag the parity down towards key supports around 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on EUR/KRW around 1,310, stop loss 1,322 and target of 1,302/1,294/1,287.
