FxWirePro: EUR/KRW still in rigid boundaries, bias remains neutral
EUR/KRW is currently trading around 1,278 mark. Pair made intraday high at 1,279 and low at 1,276 levels. Intraday bias remains neutral for the moment. A sustained close above 1,284 will take the parity higher towards ke…
Pair made intraday high at 1,279 and low at 1,276 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,284 will take the parity higher towards key resistances around 1,296, 1,302, 1,313, 1,327, 1,338, 1,347 and 1,355 marks respectively.
On the other side, a daily close below 1,273 will drag the parity down towards key supports around 1,264, 1,248 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 0.12 pct.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
