EUR/KRW is currently trading around 1,283 mark. It made intraday high at 1,285 and low at 1,283 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,279 mark. A sustained close above 1…
It made intraday high at 1,285 and low at 1,283 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,279 mark.
A sustained close above 1,283 will take the parity higher towards key resistances around 1,290, 1,302, 1,324, 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,279 will drag the parity down towards key supports around 1,274, 1,265, 1,244 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA down and confirms the bearish trend in a daily chart.
South Korea’s kospi was trading 1.16 pct lower at 2,215.45 points.
We prefer to take short position on EUR/KRW around 1,285, stop loss at 1,292 and target of 1,274/1,265.
