FxWirePro: EUR/KRW moves directionless since five months, further sideways movement likely
EUR/KRW is currently trading around 1,275 mark. It made intraday high at 1,276 and low at 1,273 levels. Intraday bias remains neutral till the time pair holds key support at 1,265 mark. A sustained close above 1,282 will…
It made intraday high at 1,276 and low at 1,273 levels.
Intraday bias remains neutral till the time pair holds key support at 1,265 mark.
A sustained close above 1,282 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 1,246 and 1,234 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 0.11 pct.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
