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FxWirePro: EUR/KRW moves in rigid boundaries, bias remains neutral

  • EUR/KRW is currently trading around 1,286 mark.
     
  • Pair made intraday high at 1,288 and low at 1,284 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 1,296 mark.
     
  • A sustained close above 1,296 will take the parity higher towards key resistances around 1,302, 1,313, 1,327, 1,338, 1,347, 1,355, 1,363, 1,377 and 1,390 marks respectively.
     
  • On the other side, a daily close below 1,278 will drag the parity down towards key supports around 1,273, 1,264, 1,253 and 1,234 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 0.33 pct.

We prefer to take long position on EUR/KRW only above 1,296, stop loss at 1,278 and target of 1,313/1,327.

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