FxWirePro: EUR/KRW moves directionless since last 2-week, stay neutral
EUR/KRW is currently trading around 1,276 mark. Pair made intraday high at 1,278 and low at 1,276 levels. Intraday bias remains neutral till the time pair holds immediate resistance at 1,279 mark. A sustained close above…
Pair made intraday high at 1,278 and low at 1,276 levels.
Intraday bias remains neutral till the time pair holds immediate resistance at 1,279 mark.
A sustained close above 1,279 will take the parity higher towards key resistances around 1,285, 1,292, 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,272 will drag the parity down towards key supports around 1,267, 1,258, 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 up 0.47 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.
