FxWirePro: EUR/KRW trades in narrow range, sustained close below 1,300 requires for downside rally
EUR/KRW is currently trading around 1,303 mark. It made intraday high at 1,306 and low at 1,303 levels. Intraday bias remains neutral for the moment. A sustained close above 1,310 will take the parity higher towards key …
It made intraday high at 1,306 and low at 1,303 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,310 will take the parity higher towards key resistances around 1,324, 1,332, 1,347 and 1,363 marks respectively.
On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,290, 1,282, 1,274, 1,265 and 1,244 marks respectively.
Important to note here that 20D, 30D and 55D EMA up and confirms the bullish trend in a daily chart.
South Korea’s kospi was trading 0.98 pct lower at 2,190.54 points.
We prefer to take short position on EUR/KRW only below 1,300, stop loss at 1,310 and target of 1,290/1,282.
