FxWirePro: EUR/KRW moves in stiff boundaries, upside limited
EUR/KRW is currently trading around 1,282 mark. Pair made intraday high at 1,284 and low at 1,282 levels. Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,284 mark. A sustained cl…
Pair made intraday high at 1,284 and low at 1,282 levels.
Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,284 mark.
A sustained close above 1,284 will take the parity higher towards key resistances around 1,296, 1,302, 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,277 will drag the parity down towards key supports around 1,271, 1,264, 1,253 and 1,234 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 0.19 pct.
We prefer to take short position on EUR/KRW around 1,283, stop loss at 1,296 and target of 1,277/1,264.
