EUR/KRW is currently trading around 1,330 mark. Pair made intraday high at 1,330 and low at 1,328 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,340 mark. A sustained close above 1,329…
Pair made intraday high at 1,330 and low at 1,328 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,340 mark.
A sustained close above 1,329 will take the parity higher towards key resistances around 1,340, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,329 will drag the parity down towards key supports around 1,326, 1,320, 1,313 and 1,302 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 up 0.39 pct.
We prefer to take short position on EUR/KRW around 1,332, stop loss at 1,340 and target of 1,320.
