FxWirePro: South Korean won trades almost flat againt euro, hits strongest level since May 2017
EUR/KRW is currently trading around 1,255 mark. Pair made intraday high at 1,255 and low at 1,253 levels. Intraday bias remains neutral for the moment. A sustained close above 1,254 will take the parity higher towards ke…
Pair made intraday high at 1,255 and low at 1,253 levels.
Intraday bias remains neutral for the moment.
A sustained close above 1,254 will take the parity higher towards key resistances around 1,268, 1,280, 1,294, 1,302, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,254 will drag the parity down towards key supports around 1,242, 1,222 and 1,205 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Seoul shares open up 0.17 pct.
We prefer to take short position on EUR/KRW around 1,258, stop loss at 1,270 and target of 1,242/1,222.
