FxWirePro: EUR/KRW trades in narrow range, stay bearish only below 1,339 mark

• EUR/KRW is currently trading around 1,341 mark.
   
• Pair made intraday high at 1,342 and low at 1,339 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1,339 mark.
   
• A sustained close above 1,339 will take the parity higher towards key resistances around 1,349, 1,355, 1,363, 1,377 and 1,390 marks respectively.
   
• On the other side, a daily close below 1,339 will drag the parity down towards key supports around 1,332, 1,326, 1,320, 1,313 and 1,302 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.
   
• South Korean banks will be closed in observance of Chusok – Full Moon Festival.

We prefer to take short position on EUR/KRW only below 1,339, stop loss at 1,349 and target of 1,326.

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