FxWirePro: EUR/KRW rejects key support at 1,284 mark, short term trend reversal likely
EUR/KRW is currently trading around 1,292 mark. Pair made intraday high at 1,294 and low at 1,292 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,295 mark. A sustained close ab…
Pair made intraday high at 1,294 and low at 1,292 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,295 mark.
A sustained close above 1,294 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 1,294 will drag the parity down towards key supports around 1,284, 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 0.06 pct.
We prefer to take short position on EUR/KRW only below 1,291, stop loss at 1,298 and target of 1,284/1,277/1,258.
