FxWirePro: EUR/KRW moves in stiff boundaries, stay neutral
EUR/KRW is currently trading around 1,318 mark. It made intraday high at 1,319 and low at 1,316 levels. Intraday bias remains neutral till the time pair holds key support at 1,308 mark. A sustained close above 1,318 will…
It made intraday high at 1,319 and low at 1,316 levels.
Intraday bias remains neutral till the time pair holds key support at 1,308 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,308 will drag the parity down towards key supports around 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.
South Korea’s Kospi was trading 0.08 pct higher at 2,110.25 points.
We prefer to take long position on EUR/KRW only above 1,320, stop loss 1,308 and target of 1,340/1,358.
