FxWirePro: EUR/KRW hovers around key resistance at 1,288 mark, consistent close above targets 1,319 mark
EUR/KRW is currently trading around 1,287 mark. It made intraday high at 1,288 and low at 1,284 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,288 mark. A sustained close above 1,288 w…
It made intraday high at 1,288 and low at 1,284 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,288 mark.
A sustained close above 1,288 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
South Korea’s Kospi was trading 0.20 point lower at 2,158.44.
We prefer to take long position on EUR/KRW only above 1,290, stop loss at 1,274 and target of 1,302/1,319.
