FxWirePro: EUR/KRW trades flat at 1,315 mark, stay bearish only below 1,310 mark
EUR/KRW is currently trading around 1,315 mark. It made intraday high at 1,317 and low at 1,315 levels. Intraday bias remains neutral till the time pair holds key support at 1,310 mark. A sustained close above 1,316 will…
It made intraday high at 1,317 and low at 1,315 levels.
Intraday bias remains neutral till the time pair holds key support at 1,310 mark.
A sustained close above 1,316 will take the parity higher towards key resistances around 1,326, 1,347, 1,363, 1,373, 1,410 and 1,434 marks respectively.
On the other side, a daily close below 1,316 will drag the parity down towards key supports around 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. Current downside movement is short term trend correction only.
We prefer to take short position on EUR/KRW only below 1,310, stop loss 1,318 and target of 1,302/1,294.
