FxWirePro: EUR/KRW moves in stiff boundaries, stay neutral
EUR/KRW is currently trading around 1,283 mark. It made intraday high at 1,285 and low at 1,280 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,290 to 1,274 mark. A sustained clo…
It made intraday high at 1,285 and low at 1,280 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,290 to 1,274 mark.
A sustained close above 1,284 will take the parity higher towards key resistances around 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,276 will drag the parity down towards key supports around 1,270, 1,257, 1,246, 1,234, 1,218 and 1,206 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 1.27 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.
