FxWirePro: EUR/KRW moves in rigid boundaries, bias remains neutral
EUR/KRW is currently trading around 1,298 mark. Pair made intraday high at 1,302 and low at 1,298 levels. Intraday bias remains neutral till the time pair holds key support at 1,295 mark. A sustained close above 1,302 wi…
Pair made intraday high at 1,302 and low at 1,298 levels.
Intraday bias remains neutral till the time pair holds key support at 1,295 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,295 will drag the parity down towards key supports around 1,289, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.62 pct.
South Korea to cut transportation fuel tax by 15 pct from Nov 6 for six months.
We prefer to take long position on EUR/KRW only above 1,302, stop loss at 1,294 and target of 1,315.
