FxWirePro: EUR/KRW stabilizes above 1,320 mark, sustained close below requires for downside rally
EUR/KRW is currently trading around 1,322 mark. It made intraday high at 1,325 and low at 1,320 levels. Intraday bias remains neutral till the time pair holds key support at 1,320 mark. A sustained close above 1,333 will…
It made intraday high at 1,325 and low at 1,320 levels.
Intraday bias remains neutral till the time pair holds key support at 1,320 mark.
A sustained close above 1,333 will take the parity higher towards key resistances around 1,338, 1,357, 1,377, 1,392, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,320 will drag the parity down towards key supports around 1,307, 1,298, 1,274 and 1,265 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.08 pct higher at 1,916.13 points.
We prefer to take short position on EUR/KRW only below 1,320, stop loss at 1,333 and target of 1,307/1,298.
