FxWirePro: EUR/KRW trades flat at 1,302 mark, sustained close above requires for upside rally
EUR/KRW is currently trading around 1,301 mark. It made intraday high at 1,302 and low at 1,300 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark. A sustained close above 1,302 w…
It made intraday high at 1,302 and low at 1,300 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,302 mark.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,319, 1,327, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,293 will drag the parity down towards key supports around 1,288, 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. Current upside movement is short term trend correction only.
South Korea’s Kospi was trading 0.28 point higher at 2,102.19.
We prefer to take long position on EUR/KRW only above 1,304, stop loss at 1,293 and target of 1,319/1,327.
