FxWirePro: EUR/KRW slips below 1,300 mark, bias turns bearish again
EUR/KRW is currently trading around 1,294 mark. Pair made intraday high at 1,298 and low at 1,294 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,302 mark. A sustained close above 1,296…
Pair made intraday high at 1,298 and low at 1,294 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,302 mark.
A sustained close above 1,296 will take the parity higher towards key resistances around 1,302, 1,315, 1,327 and 1,338 marks respectively.
On the other side, a daily close below 1,296 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 0.63 pct.
We prefer to take short position on EUR/KRW around 1,296, stop loss at 1,302 and target of 1,286/1,277.
