FxWirePro: EUR/KRW hovers around key support at 1,305 mark, consistent close below targets 1,294 mark
EUR/KRW is currently trading around 1,305 mark. Pair made intraday high at 1,308 and low at 1,305 levels. Intraday bias remains neutral till the time pair holds key support at 1,305 mark. A sustained close above 1,305 wi…
Pair made intraday high at 1,308 and low at 1,305 levels.
Intraday bias remains neutral till the time pair holds key support at 1,305 mark.
A sustained close above 1,305 will take the parity higher towards key resistances around 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,305 will drag the parity down towards key supports around 1,294, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
Seoul shares open up 0.14 pct.
We prefer to take short position on EUR/KRW around 1,306, stop loss at 1,315 and target of 1,294.
