FxWirePro: EUR/KRW moves in stiff boundaries, stay neutral
EUR/KRW is currently trading around 1,356 mark. It made intraday high at 1,368 and low at 1,353 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,377 mark. A sustained close abov…
It made intraday high at 1,368 and low at 1,353 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,377 mark.
A sustained close above 1,377 will take the parity lower towards key resistances around 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,336 will drag the parity down towards key supports around 1,318, 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 6.33 pct higher at 1,577.06 points.
We prefer to take long position on EUR/KRW only above 1,370, stop loss at 1,336 and target of 1,392/1,400.
