FxWirePro: EUR/KRW moves in stiff boundaries, sustained close above 1,315 requires for upside rally
EUR/KRW is currently trading around 1,310 mark. Pair made intraday high at 1,310 and low at 1,306 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,315 mark. A sustained close above 1,315…
Pair made intraday high at 1,310 and low at 1,306 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,315 mark.
A sustained close above 1,315 will take the parity higher towards key resistances around 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,291, 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 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 0.44 pct.
We prefer to take short position on EUR/KRW only below 1,302, stop loss at 1,315 and target of 1,282.
