FxWirePro: EUR/KRW trades in narrow range, bias remains slightly bullish
EUR/KRW is currently trading around 1,316 mark. It made intraday high at 1,318 and low at 1,315 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1,313 mark. A sustained close above 1…
It made intraday high at 1,318 and low at 1,315 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,313 mark.
A sustained close above 1,313 will take the parity higher towards key resistances around 1,322, 1,332, 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,313 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.
Seoul shares open down 0.14 pct.
We prefer to take short position on EUR/KRW only below 1,313, stop loss 1,325 and target of 1,302/1,294.
