FxWirePro: EUR/KRW hovers around fresh 5-month high at 1,280 mark, consistent close above targets 1,315 mark
EUR/KRW is currently trading around 1,274 mark. Pair made intraday high at 1,279 and low at 1,274 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,280 mark. A sustained close ab…
Pair made intraday high at 1,279 and low at 1,274 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,280 mark.
A sustained close above 1,278 will take the parity higher towards key resistances around 1,294, 1,302, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,278 will drag the parity down towards key supports around 1,267, 1,260, 1,253, 1,246, 1,234, 1,222, 1,205 and 1,188 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 0.73 pct.
We prefer to take long position on EUR/KRW only above 1,280, stop loss at 1,270 and target of 1,294/1,315.
