FxWirePro: EUR/KRW rejects key resistance at 1,290 mark, good to sell on rallies
EUR/KRW is currently trading around 1,284 mark. It made intraday high at 1,288 and low at 1,284 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,288 mark. A sustained close abov…
It made intraday high at 1,288 and low at 1,284 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,288 mark.
A sustained close above 1,288 will take the parity higher towards key resistances around 1,294, 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,274 will drag the parity down towards key supports around 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.74 point higher at 2,156.32.
We prefer to take short position on EUR/KRW around 1,286, stop loss at 1,292 and target of 1,274/1,265.
