FxWirePro: EUR/KRW trades flat at 1,314 mark, sustained close above 1,319 requires for upside rally
EUR/KRW is currently trading around 1,314 mark. It made intraday high at 1,315 and low at 1,313 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,319 mark. A sustained close above 1,319 w…
It made intraday high at 1,315 and low at 1,313 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,319 mark.
A sustained close above 1,319 will take the parity higher towards key resistances around 1,327, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,294, 1,287, 1,278 and 1,268 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 0.08 point higher at 2,062.43.
We prefer to take short position on EUR/KRW only below 1,310, stop loss at 1,317 and target of 1,302/1,294.
