FxWirePro: EUR/KRW slips below 1,350 mark, short term trend reversal likely
EUR/KRW is currently trading around 1,347 mark. It made intraday high at 1,348 and low at 1,344 levels. Intraday bias remains neutral till the time pair holds key support at 1,344 mark. A sustained close above 1,344 will…
It made intraday high at 1,348 and low at 1,344 levels.
Intraday bias remains neutral till the time pair holds key support at 1,344 mark.
A sustained close above 1,344 will take the parity higher towards key resistances around 1,357, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,344 will drag the parity down towards key supports around 1,336, 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 1.25 pct lower at 1,913.94 point.
We prefer to take short position on EUR/KRW around 1,350, stop loss 1,362 and target of 1,311.
