FxWirePro: EUR/KRW takes halt around 1,360 mark, further sideways movement likely
EUR/KRW is currently trading around 1,360 mark. It made intraday high at 1,361 and low at 1,358 levels. Intraday bias remains neutral for the moment. A sustained close above 1,363 will take the parity higher towards key …
It made intraday high at 1,361 and low at 1,358 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,363 will take the parity higher towards key resistances around 1,377, 1,392 and 1,434 marks respectively.
On the other side, a daily close below 1,358 will drag the parity down towards key supports around 1,338, 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 0.38 pct higher at 1,924.23 points.
We prefer to take short position on EUR/KRW only below 1,354, stop loss 1,370 and target of 1,338/1,311.
