FxWirePro: EUR/KRW touches 1,290 mark in early Asia, sustained close below targets 1,274 mark
EUR/KRW is currently trading around 1,291 mark. It made intraday high at 1,292 and low at 1,291 levels. Intraday bias remains neutral till the time pair holds key support at 1,290 mark. A sustained close above 1,290 will…
It made intraday high at 1,292 and low at 1,291 levels.
Intraday bias remains neutral till the time pair holds key support at 1,290 mark.
A sustained close above 1,290 will take the parity higher towards key resistances around 1,302, 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,290 will drag the parity down towards key supports around 1,274, 1,265, 1,244, 1,212 and 1,200 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s Kospi was trading 0.46 point higher at 2,134.35.
We prefer to take short position on EUR/KRW only below 1,290, stop loss at 1,302 and target of 1,274/1,265.
