FxWirePro: EUR/KRW hovers around 1,291 mark, consistent close above requires for upside movement
EUR/KRW is currently trading around 1,290 mark. It made intraday high at 1,291 and low at 1,290 levels. Intraday bias remains slightly bearish for the moment. A sustained close above 1,291 will take the parity higher tow…
It made intraday high at 1,291 and low at 1,290 levels.
Intraday bias remains slightly bearish for the moment.
A sustained close above 1,291 will take the parity higher towards key resistances around 1,297, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,287 will drag the parity down towards key supports around 1,277, 1,268, 1,257, 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.
Seoul shares open up 0.19 pct.
South Korea Fin min - Aware of views that policy interest rate need to be lowered to boost growth.
South Korea Fin min - Will respond if FX volatility worsens.
South Korea Fin min - Will closely monitor currency movements
South Korea Fin min - Plan to diversify oil imports, will support small firms hurt by sanctions against Iran.
We prefer to take short position on EUR/KRW only below 1,289, stop loss 1,294 and target of 1,277.
