EUR/KRW is currently trading around 1,314 mark. It made intraday high at 1,314 and low at 1,313 levels. Intraday bias remains bearish till the time pair holds key resistance at 1,332 mark. A sustained close above 1,332 w…
It made intraday high at 1,314 and low at 1,313 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1,332 mark.
A sustained close above 1,332 will take the parity higher towards key resistances around 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,318 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
South Korea’s Kospi was trading 0.83 pct higher at 2,025.58 point.
We prefer to take short position on EUR/KRW around 1,315, stop loss 1,332 and target of 1,302/1,294.
