FxWirePro: EUR/KRW trades in narrow range, stay bullish only above 1,302 mark
EUR/KRW is currently trading around 1,301 mark. Pair made intraday high at 1,302 and low at 1,300 levels. Intraday bias remains neutral for the moment. A sustained close above 1,302 will take the parity higher towards ke…
Pair made intraday high at 1,302 and low at 1,300 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,302 will take the parity higher towards key resistances around 1,315, 1,327 and 1,338 marks respectively.
On the other side, a daily close below 1,302 will drag the parity down towards key supports around 1,292, 1,286, 1,277, 1,267, 1,258, 1,246, 1,234 and 1,222 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 down 0.07 pct.
We preer to take long position on EUR/KRW only above 1,302, stop loss at 1,292 and target of 1,315.
