FxWirePro: EUR/KRW trades in narrow range, faces strong resistance at 1,313 mark

• EUR/KRW is currently trading around 1,308 mark.
   
• Pair made intraday high at 1,309 and low at 1,307 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1,313 mark.
   
• A sustained close above 1,307 will take the parity higher towards key resistances around 1,313, 1,327, 1,338, 1,347 and 1,355 marks respectively.
   
• On the other side, a daily close below 1,307 will drag the parity down towards key supports around 1,302, 1,288, 1,272, 1,264, 1,248 and 1,234 marks respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Seoul shares open down 0.33 pct.

We prefer to take long position on EUR/KRW only above 1,310, stop loss at 1,298 and target of 1,338/1,347.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest