FxWirePro: EUR/KRW hovers around 1,300 mark, sustained close above 1,302 requires for upside rally
EUR/KRW is currently trading around 1,297 mark. Pair made intraday high at 1,299 and low at 1,297 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark. A sustained close above 1,302…
Pair made intraday high at 1,299 and low at 1,297 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,277, 1,267, 1,258, 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 down 0.02 pct.
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,290 and target of 1,315.
