FxWirePro: EUR/KRW hovers around 1,270 mark, stay neutral
EUR/KRW is currently trading around 1,271 mark. It made intraday high at 1,271 and low at 1,270 levels. Intraday bias remains neutral till the time pair holds key support at 1,265 mark. A sustained close above 1,270 will…
It made intraday high at 1,271 and low at 1,270 levels.
Intraday bias remains neutral till the time pair holds key support at 1,265 mark.
A sustained close above 1,270 will take the parity higher towards key resistances around 1,278, 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 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 0.51 pct.
We prefer to take short position on EURKRW only below 1,265, stop loss 1,277 and target of 1,246.
