EUR/KRW is currently trading around 1,284 mark. Pair made intraday high at 1,285 and low at 1,280 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,278 mark. A sustained close above…
Pair made intraday high at 1,285 and low at 1,280 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,278 mark.
A sustained close above 1,280 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 1,278 will drag the parity down towards key supports around 1,273, 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 up 0.24 pct.
We prefer to take short position on EUR/KRW around 1,286, stop loss at 1,296 and target of 1,278/1,264.
