FxWirePro: EUR/KRW moves in still boundaries, bias remains neutral
EUR/KRW is currently trading around 1,296 mark. Pair made intraday high at 1,296 and low at 1,293 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark. A sustained close above 1,295…
Pair made intraday high at 1,296 and low at 1,293 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark.
A sustained close above 1,295 will take the parity higher towards key resistances around 1,302, 1,308, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,293 will drag the parity down towards key supports around 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 down and confirms the bearish trend in a daily chart.
Seoul shares open up 0.18 pct.
We prefer to take long position on EUR/KRW only above 1,298, stop loss at 1,290 and target of 1,315.
