FxWirePro: EUR/KRW remains well supported below 1,278 mark, sustained close above requires for upside rally
EUR/KRW is currently trading around 1,276 mark. It made intraday high at 1,276 and low at 1,275 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,270 to 1,290 mark. A sustained clo…
It made intraday high at 1,276 and low at 1,275 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,270 to 1,290 mark.
A sustained close above 1,278 will take the parity higher towards key resistances around 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,265 will drag the parity down towards key supports around 1,257, 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. Current upside movement is short term trend correction only.
Seoul shares open up 0.36 pct.
We prefer to take long position on EUR/KRW only above 1,278, stop loss 1,269 and target of 1,294.
