FxWirePro: EUR/KRW remains well supported above 1,300 mark, further sideways movement likely
EUR/KRW is currently trading around 1,307 mark. Pair made intraday high at 1,310 and low at 1,307 levels. Intraday bias remains neutral for the moment. A sustained close above 1,315 will take the parity higher towards ke…
Pair made intraday high at 1,310 and low at 1,307 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,315 will take the parity higher towards key resistances around 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,305 will drag the parity down towards key supports around 1,291, 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 up and confirms the bullish trend in a daily chart.
We prefer to take short position on EUR/KRW around 1,307, stop loss at 1,315 and target of 1,291.
