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FxWirePro: EUR/KRW trades in narrow range, stay bearish only below 1,284

Tuesday, November 21, 2017 1:52 AM UTC

EUR/KRW is currently trading around 1,288 mark.
Pair made intraday high at 1,288 and low at 1,284 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1,284 mark.
A sustained close above 1,284 will take the parity higher towards key resistances around 1,295, 1,302, 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,284 will drag the parity down towards key supports around 1,277, 1,264, 1,253 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. Current upside movement is short term trend correction only.
Seoul shares open up 0.24 pct.

We prefer to take short position on EUR/KRW only below 1,284, stop loss at 1,302 and target of 1,277/1,264.

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FxWirePro: EUR/KRW trades in narrow range, stay bearish only below 1,284

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