FxWirePro: EUR/KRW stabilizes below 1,300 mark, faces immediate support at 1,294 mark
EUR/KRW is currently trading around 1,299 mark. Pair made intraday high at 1,299 and low at 1,297 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,306 mark. A sustained close ab…
Pair made intraday high at 1,299 and low at 1,297 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,306 mark.
A sustained close above 1,306 will take the parity higher towards key resistances around 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,296 will drag the parity down towards key supports around 1,286, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.04 pct.
We prefer to take short position on EUR/KRW around 1,300, stop loss at 1,315 and target of 1,286.
