FxWirePro: South Korean won trades almost flat in early Asia, stay neutral
EUR/KRW is currently trading around 1,324 mark. It made intraday high at 1,326 and low at 1,324 levels. Intraday bias remains neutral till the time pair holds key support at 1,321 mark. A sustained close above 1,333 will…
It made intraday high at 1,326 and low at 1,324 levels.
Intraday bias remains neutral till the time pair holds key support at 1,321 mark.
A sustained close above 1,333 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,317, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on EUR/KRW only below 1,321, stop loss 1,332 and target of 1,302.
