FxWirePro: EUR/KRW slips below 1,320 mark, consistent close below targets 1,302 mark
EUR/KRW is currently trading around 1,319 mark. It made intraday high at 1,320 and low at 1,319 levels. Intraday bias remains neutral till the time pair holds key support at 1,318 mark. A sustained close above 1,318 will…
It made intraday high at 1,320 and low at 1,319 levels.
Intraday bias remains neutral till the time pair holds key support at 1,318 mark.
A sustained close above 1,318 will take the parity higher towards key resistances around 1,337, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,318 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.24 pct higher at 2,009.24 point.
We prefer to take short position on EUR/KRW only below 1,318, stop loss 1,332 and target of 1,302.
