FxWirePro: EUR/KRW stabilizes above 1,280 mark, good to buy on dips
EUR/KRW is currently trading around 1,284 mark. It made intraday high at 1,285 and low at 1,283 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,285 mark. A sustained close above 1,285 w…
It made intraday high at 1,285 and low at 1,283 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,285 mark.
A sustained close above 1,285 will take the parity higher towards key resistances around 1,288, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,285 will drag the parity down towards key supports around 1,272, 1,265, 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.
Seoul shares open up 0.16 pct.
We prefer to take long position on EUR/KRW around 1,280, stop loss at 1,268 and target of 1,294 mark.
