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FxWirePro: EUR/KRW moves directionless, stay neutral

  • EUR/KRW is currently trading around 1,282 mark.
     
  • It made intraday high at 1,282 and low at 1,280 levels.
     
  • Intraday bias remains neutral till the time pair moves in stiff boundaries from 1,289 to 1,268 mark.
     
  • A sustained close above 1,289 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 1,265 will drag the parity down towards key supports around 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 0.42 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.

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