FxWirePro: EUR/KRW moves in stiff boundaries, stay neutral
EUR/KRW is currently trading around 1,329 mark. It made intraday high at 1,331 and low at 1,329 levels. Intraday bias remains neutral till the time pair holds key support at 1,327 mark. A sustained close above 1,333 will…
It made intraday high at 1,331 and low at 1,329 levels.
Intraday bias remains neutral till the time pair holds key support at 1,327 mark.
A sustained close above 1,333 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,327 will drag the parity down towards key supports around 1,317, 1,302, 1,294, 1,287, 1,278 and 1,268 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 0.67 pct.
We prefer to take short position on EUR/KRW only below 1,322, stop loss 1,335 and target of 1,302.
