FxWirePro: EUR/KRW trades in stiff directions, downside limited
EUR/KRW is currently trading around 1,335 mark. Pair made intraday high at 1,339 and low at 1,334 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,349 mark. A sustained close above 1,335…
Pair made intraday high at 1,339 and low at 1,334 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,349 mark.
A sustained close above 1,335 will take the parity higher towards key resistances around 1,344, 1,349, 1,363, 1,377 and 1,390 marks respectively.
On the other side, a daily close below 1,335 will drag the parity down towards key supports around 1,328, 1,320, 1,313, 1,302, 1,290, 1,277, 1,265 and 1,247 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.
Seoul shares open down 0.09 pct at 2376.38.
We prefer to take long position on EUR/KRW only above 1,340, stop loss at 1,328 and target of 1,349/1,363.
