FxWirePro: EUR/KRW moves in stiff boundaries, downside limited
EUR/KRW is currently trading around 1,313 mark. Pair made intraday high at 1,314 and low at 1,311 levels. Intraday bias remains neutral till the time pair holds immediate support at 1,305 mark. A sustained close above 1,…
Pair made intraday high at 1,314 and low at 1,311 levels.
Intraday bias remains neutral till the time pair holds immediate support at 1,305 mark.
A sustained close above 1,311 will take the parity higher towards key resistances around 1,320, 1,327, 1,338 and 1,358 marks respectively.
On the other side, a daily close below 1,311 will drag the parity down towards key supports around 1,305, 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.
Seoul shares open up 0.69 pct.
We prefer to take short position on EUR/KRW only below 1,311, stop loss at 1,320 and target of 1,294.
