FxWirePro: South Korean won trades almost flat in early Asia, stay neutral
EUR/KRW is currently trading around 1,283 mark. It made intraday high at 1,283 and low at 1,282 levels. Intraday bias remains neutral till the time pair holds key resistance at 1,289 mark. A sustained close above 1,283 w…
It made intraday high at 1,283 and low at 1,282 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1,289 mark.
A sustained close above 1,283 will take the parity higher towards key resistances around 1,289, 1,294, 1,307, 1,315 and 1,327 marks respectively.
On the other side, a daily close below 1,283 will drag the parity down towards key supports around 1,277, 1,269, 1,257, 1,246 and 1,234 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.04 pct.
We prefer to take long position on EUR/KRW only above 1,289, stop loss 1,278 and target of 1,294/1,307.
