FxWirePro: EUR/KRW moves in stiff boundaries, upside limited
EUR/KRW is currently trading around 1,318 mark. It made intraday high at 1,319 and low at 1,317 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,308 to 1,328 mark. A sustained clo…
It made intraday high at 1,319 and low at 1,317 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,308 to 1,328 mark.
A sustained close above 1,328 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 1,318 will drag the parity down towards key supports around 1,308, 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 0.24 pct higher at 2,098.55 points.
We prefer to take short position on EUR/KRW around 1,320, stop loss 1,328 and target of 1,308/1,294.
