FxWirePro: EUR/KRW trades in narrow range, stay bearish only below 1,269 mark
EUR/KRW is currently trading around 1,272 mark. It made intraday high at 1,273 and low at 1,272 levels. Intraday bias remains neutral till the time pair holds key support at 1,269 mark. A sustained close above 1,272 will…
It made intraday high at 1,273 and low at 1,272 levels.
Intraday bias remains neutral till the time pair holds key support at 1,269 mark.
A sustained close above 1,272 will take the parity higher towards key resistances around 1,282, 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,272 will drag the parity down towards key supports around 1,265, 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open down 0.02 pct.
Korea, South March 2019 FX reserves increase to 405.25 usd vs previous 404.67 usd.
We prefer to take short position on EUR/KRW only below 1,269, stop loss 1,278 and target of 1,257/1,246.
