FxWirePro: EUR/KRW hovers around 1,340 mark, consistent close below targets 1,311 mark
EUR/KRW is currently trading around 1,344 mark. It made intraday high at 1,345 and low at 1,343 levels. Intraday bias remains neutral till the time pair holds key support at 1,342 mark. A sustained close above 1,342 will…
It made intraday high at 1,345 and low at 1,343 levels.
Intraday bias remains neutral till the time pair holds key support at 1,342 mark.
A sustained close above 1,342 will take the parity higher towards key resistances around 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,342 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.53 pct higher at 1,934.23 point.
We prefer to take short position on EUR/KRW only below 1,342, stop loss 1,358 and target of 1,332/1,311.
