FxWirePro: EUR/KRW remains well supported below 1,300 mark, stay bearish only below 1,292 mark
EUR/KRW is currently trading around 1,295 mark. Pair made intraday high at 1,298 and low at 1,295 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,302 mark. A sustained close ab…
Pair made intraday high at 1,298 and low at 1,295 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,302 mark.
A sustained close above 1,295 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 1,295 will drag the parity down towards key supports around 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 down and confirms the bearish trend in a daily chart.
Seoul shares open down 0.28 pct.
We prefer to take short position on EUR/KRW only below 1,292, stop loss at 1,298 and target of 1,277.
