FxWirePro: EUR/KRW hovers around 1,340 mark, upside limited
EUR/KRW is currently trading around 1,338 mark. Pair made intraday high at 1,339 and low at 1,333 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,334 mark. A sustained close above…
Pair made intraday high at 1,339 and low at 1,333 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,334 mark.
A sustained close above 1,334 will take the parity higher towards key resistances around 1,357, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,334 will drag the parity down towards key supports around 1,325, 1,308, 1,302, 1,288, 1,272 and 1,264 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on EUR/KRW around 1,342, stop loss at 1,357 and target of 1,308.
