FxWirePro: EUR/KRW stabilizes below 1,300 mark, good to sell on rallies
EUR/KRW is currently trading around 1,296 mark. Pair made intraday high at 1,299 and low at 1,296 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,307 mark. A sustained close above 1,297…
Pair made intraday high at 1,299 and low at 1,296 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,307 mark.
A sustained close above 1,297 will take the parity higher towards key resistances around 1,307, 1,315, 1,327, 1,338, 1,358 and 1,380 marks respectively.
On the other side, a daily close below 1,297 will drag the parity down towards key supports around 1,289, 1,277, 1,267, 1,258, 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 down 0.51 pct.
We prefer to take short position on EUR/KRW around 1,297, stop loss at 1,307 and target of 1,277.
