FxWirePro: EUR/KRW takes halt around 1,380 mark, short term trend reversal likely
EUR/KRW is currently trading around 1,364 mark. It made intraday high at 1,374 and low at 1,362 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1,374 mark. A sustained close abov…
It made intraday high at 1,374 and low at 1,362 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1,374 mark.
A sustained close above 1,374 will take the parity lower towards key resistances around 1,390, 1,400, 1,408 and 1,428 marks respectively.
On the other side, a daily close below 1,374 will drag the parity down towards key supports around 1,341, 1,318, 1,307, 1,298, 1,274, 1,265, 1,244 and 1,222 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.28 pct higher at 1,960.74 points.
We prefer to take long position on EUR/KRW only above 1,374, stop loss at 1,350 and target of 1,390/1,408.
