- EUR/KRW is currently trading around 1,343 mark.
- Pair made intraday high at 1,345 and low at 1,340 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 1,349, 1,355, 1,363, 1,377 and 1,390 marks respectively.
- On the other side, a daily close below 1,342 will drag the parity down towards key supports around 1,337, 1,326, 1,320, 1,313 and 1,302 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.
- South Korean banks will be closed in observance of Chusok – Full Moon Festival.
We prefer to take short position on EUR/KRW only below 1,340, stop loss at 1,352 and target of 1,326.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
