FxWirePro: EUR/KRW hovers around 1,300 mark, consistent close below targets 1,282 mark
EUR/KRW is currently trading around 1,302 mark. Pair made intraday high at 1,308 and low at 1,302 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,315 mark. A sustained close ab…
Pair made intraday high at 1,308 and low at 1,302 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,315 mark.
A sustained close above 1,306 will take the parity higher towards key resistances around 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,282, 1,277, 1,267, 1,258, 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. Current downside movement is short term trend correction only.
Seoul shares open up 0.10 pct.
We prefer to take short position on EUR/KRW only below 1,298, stop loss at 1,307 and target of 1,282.
